Money used as a form of exchange is what?
We need you to answer this question!
If you know the answer to this question, please register to join our limited beta program and start the conversation right now!
Asked in The Difference Between
What is the difference between a commodity form of money and token money?
A commodity form of money is when the value of the money is determined by the intrinsic worth of what makes it. For example, if the money is salt (as was used by the Roman empire) then the value of the money is the same as the value of the same weight of salt in another form. A token form of money is when a form of money (for example a coin) is created that has little or no intrinsic value, but has value because a company or person has agreed to exchange the token for a good or service of value. One example is bus tokens - small coins that can be presented on buses in exchange for transportation.
Asked in Food & Cooking
When you use paper money to pay for food the money is a?
How do you use money in England?
Asked in Economics
How will early people exchange good and services?
early people used what they possessed (food, clothing, animals, SKILL/SERVICE)in exchange for a product or item they desired (milk, carpet, clothing, jewelries, spice, veggies etc..) from someone else; this exchange was done WITHOUT any form of MONEY involved, for this reason the exchange was called "BARTER"