Fiat money is a suitable substitute used for trade barter.
Money is any object excepted in exchange for goods and services. The object used in place of goods and services, to purchase goods and services.Fiat money is government authorized currency based on governmental placed value.
the difference between representative money and fiat money is that?A)representative money can be converted into silveror gold;fiat money cannot.B)representative money is worth more per dollar than fiat money; which is actually worthless.C)fiat money is counted in coins; representative money is counted in paper.D)fiat money is mre traditional than representative money,which is a newer concept. :)
the fiat money is money declared by a government. the fundamental flaw in the fiat money system can be summed up as human nature. the main reason that the masses ignore the inevitable failure of fiat money system
the government can issue and circulate the fiat money by selling the government bond to the central bank in exchange for the exactly same amount of fiat money.
Fiat money is a suitable substitute used for trade barter.
fiat money and digital money
Money is any object excepted in exchange for goods and services. The object used in place of goods and services, to purchase goods and services.Fiat money is government authorized currency based on governmental placed value.
the difference between representative money and fiat money is that?A)representative money can be converted into silveror gold;fiat money cannot.B)representative money is worth more per dollar than fiat money; which is actually worthless.C)fiat money is counted in coins; representative money is counted in paper.D)fiat money is mre traditional than representative money,which is a newer concept. :)
Fiat money
the fiat money is money declared by a government. the fundamental flaw in the fiat money system can be summed up as human nature. the main reason that the masses ignore the inevitable failure of fiat money system
"Fiat money, is money that is not backed by something with vaule. US money is backed by commodites like silver and gold. Fiat money is money declared by a government to be legal, eventhough it has no value."
True or false does fiat money have no inherent worth?
Fiat money is the money with no intrinsic value and its value is guaranteed by the monetary authority. Thus, Fiat money is with legal tender. People is bound to accept it.
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.
the government can issue and circulate the fiat money by selling the government bond to the central bank in exchange for the exactly same amount of fiat money.
fiat money has only a single use as a medium of exchange