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Mario paid three bushels of rice for three boxes of wool at the market. What type of money did Mario use for this exchange? fiat commodity representative goods
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Mario paid three bushels of rice for three boxes of wool at the market. What type of money did Mario use for this exchange?

fiat
commodity
representative
goods

User Ashish Uthama
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2 Answers

4 votes

Commodity. It is an object with inherent value.

User Haris Mehmood
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3 votes
It  can be deduced from the given that what Mario used as payment for the goods that he acquired is also goods. The answer to this item is commodity. It is a type of money that is not in a form of cash but has a value that can be an exchange for another commodity. 
User Nick Crews
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