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What is an example of representative money?
An example of representative money would be a gold certificate issued by a bank that can be exchanged for a specific amount of gold. These certificates are backed by the gold held by the bank and can be used as a form of currency.
Why is representative money more useful than commodity money?
What is the difference between commodity money and representative money
What is the difference between fiat money and representative money?
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. :)
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.
What is representative money?
Representative money is a type of currency that represents a claim on a commodity, which can be redeemed for that commodity. Unlike fiat money, which has value by government decree, representative money derives its value from the physical asset it represents, such as gold or silver. An example includes gold certificates that could be exchanged for a specific amount of gold. This system helps facilitate trade by providing a convenient medium of exchange while still being tied to tangible assets.
What was the first example of representative government?
The Virginia House of Burgesses was the first example of representative government.
An example about a representative democracy?
America
Is the type of money used in the US commodity money representative money or fiat money?
puppys
What are objects that have value in themselves and that are also used as money?
Representative money
Which is a power of the house of representative?
money bills
Is example an adjective?
No. The word example is a noun (instance, representative item).
An especially representative example of a concept is?
Prototype
