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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 flat money have no value?
Fiat money has only a single use as a medium of exchange
Why does flat money have no value itself?
Fiat money has only a single use as a medium of exchange
Why is paper currency considered flat money?
Paper currency is considered flat money because it has no intrinsic value and is not backed by a physical commodity, such as gold or silver. Its value is derived from the trust and confidence that people place in the issuing government and its economy. Unlike commodity money, which has value based on the material it is made from, flat money is accepted as a medium of exchange solely because of legal tender laws and societal agreement. This allows it to function effectively in modern economies.
What type of money is nonconvertible and has no intrinsic?
flat money
What type of money is nonconvertible and has no intrinsic worth?
flat money
What does it mean by money loses value isn't money money?
Money can lose value by inflation or gain value through deflation.
How do you put money into your wallet?
Paper money goes in flat and unfolded.
Mr green buys a flat for 80000 the value of the flat decreases the 1st year by 5 percent it then increases in value by 15 percent in the 2nd year what is the value after 2 years?
64,600
What is the difference between fiat money and token money?
Token money is a type of money whose intrinsic worth is less than its nominal value eg its value as money is less than its value as metal while fiat money is a type of money which intrinsic value is more than its nominal value.
What mean money as ameasure of value?
Money is recognized as a measure of value as the value and amount of money measures the value of a specific product or service. http://www.datadubai.com/
Is money a store of value?
No, because the value of money depreciates with inflation.
