At first, it might seem that valuable commodities, such as cattle or lead bars, might be good forms of money. What makes paper money preferable to these alternatives? It is less likely to be stolen. It has more intrinsic value than cattle or lead. It is divisible (unlike cattle) and easily portable (unlike lead bars). Unlike pennies and nickels, which cost more to produce than they are worth, paper money and quarters are: O Useful as a medium of exchange Examples of token money OA good store of value Cattle can be used as money but can also be slaughtered for food. Cattle are an example of: Fiat money Commodity money Representative money

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