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Fiat money has value bc the gov. declares that it has value.
Commodity money is a good that can be used as a medium of exchange or for some other purpose. Apex
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.
Commodity money has value in itself while flat money has value only because it is given value
Fiat money has only a single use as a medium of exchange.
Fiat money has value bc the gov. declares that it has value.
Commodity money is a good that can be used as a medium of exchange or for some other purpose. Apex
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.
Commodity money is a good that can be used as a medium of exchange or for some other purpose.
Commodity money has value in itself while flat money has value only because it is given value
Commodity money has value in itself while fiat money has value only because it is given value
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.
Fiat money has only a single use as a medium of exchange.
Fiat money has only a single use as a medium of exchange.
Fiat money has only a single use as a medium of exchange.
where was salt used as commodity money
The term you are looking for is commodity money. Some examples of commodity money are gold and silver.