Which of the following best explains the difference between fiat money and
commodity money?
O...
Which of the following best explains the difference between fiat money and
commodity money?
O A. Commodity money can be used for some other purpose while fiat
money can only be used as a medium of exchange.
B. Commodity money has value because someone declares that it
has value while fiat money has value in itself.
C. Commodity money must be a precious metal that people will value
because of its beauty and usefulness,
D. Commodity money is used in a barter system while fiat money is
used in a free-market system
Answers: 1
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