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- There are four accepted types of money12:
- Fiat money: Notes and coins backed by a government.
- Commodity money: Goods that have an agreed value (e.g., gold, salt).
- Fiduciary money: Money that takes its value from a trust or promise of payment (e.g., checks, bank drafts).
- Commercial bank money: Credit and loans used in the banking system (e.g., funds in a checking account).
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Broadly, there are four accepted types of money used by economists today:
- Fiat money – the notes and coins backed by a government
- Commodity money – a good that has an agreed value
www.forex.com/en/news-and-analysis/types-of-mo…5 Types Of Money
- 1. Fiat Money Examples: Banknotes (paper money) and coins ...
- 2. Commodity Money Examples: Precious metals (i.e. gold), salt, beads, alcohol ...
stackyourdollars.com/types-of-money/ Understanding Money: Its Properties, Types, and Uses
Learn what money is, how it works, and its different forms and functions. Explore the history and evolution of money from commodities to currencies to cryptocurrencies. See more
Money is a system of value that facilitates the exchange of goods in an economy. Using money allows buyers and sellers to pay less in transaction costs, compared to barter trading. The first types of money were commodities. Their physical properties made … See more
In order to be most useful, money should be fungible, durable, portable, recognizable, and stable. These properties reduce … See more
Money is a liquid asset used to facilitate transactions of value. It is used as a medium of exchange between individuals and entities. It's also … See more
Money primarily functions as the good people use for exchanges of items of value. However, it also has secondary functions that derive … See more
Money - Wikipedia
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.
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The Different Types Of Money - Stack Your Dollars
Dec 5, 2019 · Learn about the different types of money in the world, such as fiat, commodity, representative, fiduciary, and commercial bank money. Find out their functions, properties, and examples of each type.
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A basic form of money is commodity money. Another term for this is “paying in kind”. Examples include cowrie shells, bars of salt, furs, feathers and cattle.
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