What is the difference between commodity money and representative money?
pjanu asked:
A) Commodity money consists of objects used as money that contains their own value, but representative money is a specific group of the commodity objects
B) Commodity money consists of objects that have value in and of themselves, but representative money makes use of objects because the holder can exchange them for something else of value
C) Representative money allows objects to be exchanged for something else, but commodity money has value because the government decreed it is an acceptable means to pay debts
D) Representative money consists of objects that have value in and of themselves, but commodity money makes use of objects because the holder can exchange them for something else of value
A) Commodity money consists of objects used as money that contains their own value, but representative money is a specific group of the commodity objects
B) Commodity money consists of objects that have value in and of themselves, but representative money makes use of objects because the holder can exchange them for something else of value
C) Representative money allows objects to be exchanged for something else, but commodity money has value because the government decreed it is an acceptable means to pay debts
D) Representative money consists of objects that have value in and of themselves, but commodity money makes use of objects because the holder can exchange them for something else of value
Tags: Commodity Money, Money Value, Specific Group
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