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What purpose do commodity exchanges serve?
The commodity exchanges are organizations that are owned by their members for the purpose of bringing buyers and sellers together
Why does commodity have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
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 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 three forms of money?
The three forms of money are commodity money (like gold and silver), fiat money (issued by a government and not backed by a physical commodity), and representative money (backed by a physical commodity, but can be exchanged for that commodity).
What are some examples of commodity money?
gold, silver, copper, foods, alcohol, cigarettes, and drugs can all be used as commodity money.
Where can one get information on silver commodity prices?
One can get more information about silver commodity prices on a number of websites. Few examples are: Super Trading Online, CNNMoney, and moneycontrol.
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
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.
Why silver rate is going down in Indian commodity market?
Domestic commodity markets continue to witness a fall in gold prices and silver follows suit. ... Gold prices down in futures trade on global cues.
How does representative money compare to commodity money?
Representative money is a type of currency that represents a claim on a commodity, such as gold or silver, allowing holders to exchange it for that commodity, while commodity money is actual physical goods with intrinsic value, like gold coins or silver bars. Unlike commodity money, representative money does not have intrinsic value itself; its value is derived from the trust that it can be exchanged for a specific amount of a commodity. This distinction allows representative money to be more flexible and practical for everyday transactions.
Is salt an example of commodity money or representative money?
Salt is considered an example of commodity money because it has intrinsic value and can be used for its original purpose, such as seasoning and preserving food. Historically, it was widely used in trade and could be directly exchanged for goods and services. In contrast, representative money is a type of currency that represents a claim on a commodity, such as gold or silver, rather than having intrinsic value itself.
