What is the difference between Commodity v/s Fiat Money? explain elaborately?

Q: lowing example digita money? Select one: а. Rice b. Ethereum

A: Digital money, or digital currency, is any form of money or payment that exists only in electronic…

Q: What of the following are functions of money? Olegal tender for transactions Ofacilitate sales,…

A: Money can be defined as a universally accepted medium of exchange that is used to facilitate…

Q: How does the concept of commodity money differ from fiat money, and what are the advantages and…

A: The ideas of war money and fiat money are significant in understanding the development and working…

Q: You can walk into any department store and compare prices on jeans. Which of the following functions…

A: Money as a unit of account, or measure of value refers to that function of money that helps us to…

Q: What are the advantages of an economy using money as opposed to a barter system of exchange?

A: Money can be defined as any good that is widely accepted for purpose of exchange and repayment of…

Q: List the 3 functions of money.

A: STEP1 The main functions/purpose of money are: acting as medium of exchange, as a store of value,…

Q: In economics term, define what money is

A: Natural objects were among the first forms of currency. Cowrie shells, for example, have been used…

Q: Which of the following is an example of fiat money? Oa U.S. one-hundred dollar bill O a government…

A: Answer: Correct option: A (a U.S. one-hundred dollar bill) Explanation: Fiat money refers to the…

Q: List and briefly explain the functions of money

A: Money is an instrument that act as the medium of exchange for the purchase of goods and services.…

Q: In terms of money’s function as a store of value, what is the problem with fiat money? Explain in…

A: find the detailed answer below.

Q: Outline the main determinants of the demand for money.

A: In an economy, demand for money refers to the requirement of money to households and businesses for…

Q: What is money? Explain in terms of the functions of money. Define M1.

A: Money is the most important discovery in Modern Economy. All the economic activities revolve around…

Q: Discuss any three functions of Money?

A: Money is a general economic medium which is used to carry out transactions in an economy and express…

Q: What is the difference between commodity money and fiat money? Is there a scenario you can think of…

A: Money is used for exchange purposes. Money is also used as unit of account and store of value.

Q: Which of the following aren’t counted in the money supply of the US?

A: Money supply of US consist of M0, M1, M2 and M3

Q: Which of the below statements DOES NOT CORRECTLY capture the meaning of the word "money" as…

A: Money is anything that serves as a medium of exchange, a unit of account, and a store of value

Q: Which of the following is an example of fiat money? Group of answer choices A U.S. one-hundred…

A: Money is anything that is accepted as payment by people while buying and selling of product.  There…

Q: Which of the following is a function of money? a. a unit of account b. medium of exchange c. a store…

A: ANS: d.All of the above are correct     Money has various functions they can be broadly classified…

Q: economics, money refers to wealth income currency assets used and accepted as payment.

A: Money consider as a medium of trade, as a store of significant value, and as a unit of record. Mode…

Q: What are the basic functions of money in the economy, and how do these functions help facilitate…

A: Cash plays an essential part in any economy., however understanding its fundamental capabilities can…