0
What else can I help you with?
What is an example of commody money?
The term you are looking for is commodity money. Some examples of commodity money are gold and silver.
What are the examples of commodity money?
gold
What are examples of commodity money?
gold
In economics gold and salt are examples of which form of money?
Gold and salt are examples of commodity money in economics. Commodity money is backed by the intrinsic value of the goods or commodities themselves.
Why does commodity money have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
What are disadvantages of commodity money?
some disadvantages of commodity money are its not portable, durable, or divisible, it usually works in small economies
Why does commodity have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
What is an example of commodity money?
Commodity money refers to objects that have value and can be used as money. Examples would be gold, silver, jewelry, or any metal that has value. Anything that has value to one person can be used as commodity money. If someone is in need of coffee beans and you have them but they don't, they may be willing to barter goods in exchange for coffee beans. In this case, coffee beans would be used as commodity money.
Gold and salt are examples of which form of money?
Gold and salt are examples of commodity money. Commodity money has intrinsic value, meaning that the items themselves hold worth based on their material properties or usefulness. Historically, these items were widely accepted as a medium of exchange before the establishment of fiat currencies.
What is Fiat money?
A fiat money is a money which is not backed by gold or some other commodity. Hence it's value can change over time (inflation). The US Dollar and EURO are current examples of fiat moneys.
Which of the following most accurately explain why commodity money has value?
Commodity money is a good that can be used as a medium of exchange or for some other purpose.
Which of the most accurately explains why commodity money has value?
Commodity money is a good that can be used as a medium of exchange or for some other purpose. Apex
