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Which is most accurately explains why commodity money has value?
A commodity is a good that is worth money, there is no such thing as "commodity money". So if you have a good that was purchased from a vendor that is by definition a commodity, its value is whatever you paid for it, my suggestion is a mark up and that is its profit.
Which of the following statements accurately describes the relationship between commodity money and flat money?
Commodity money has value in itself while flat money has value only because it is given value
What is the difference between representative money and commodity money?
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 The answer is B.
What type of money has value based on intrinsic worth?
Commodity money
Why does commodity have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
Which is most accurately explains why commodity money has value?
A commodity is a good that is worth money, there is no such thing as "commodity money". So if you have a good that was purchased from a vendor that is by definition a commodity, its value is whatever you paid for it, my suggestion is a mark up and that is its profit.
Which of the following statements accurately describes the relationship between commodity money and flat money?
Commodity money has value in itself while flat money has value only because it is given value
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
Why does Fiat money differ from commodity money?
Fiat money differs from commodity money because it is a more convenient form of money. It is easier to carry around paper money that it is to carry around gold or silver or other commodities. Fiat money is a promise to pay in the future while commodity money derives its value from the commodity of which it is made. Fiat money has value because the government declares that it has value. Fiat money only has value as a medium of exchange.
What is the difference between representative money and commodity money?
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 The answer is B.
What type of money has value based on intrinsic worth?
Commodity money
Why does commodity have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
Which statements accurately describes the relationship between commodity money and fiat money?
Commodity money has value in itself while fiat money has value only because it is given value
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.
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
What gives money value?
Money has value because it serves as a medium of exchange, unit of account, and store of value. It is accepted by people as a commonly used medium for transactions and has a stable value recognized by society and governments. Confidence in the stability and acceptance of money by individuals and institutions also contributes to its value.
