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A monetary system where the value of monetary units is set by the specified quantity of an item is _

fiat money
representative money
commodity money
gold standard

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Answer:

C. Commodity money

Step-by-step explanation:

In a commodity monetary system, the value of money comes from a good that has an intrinsic value. This good can be traded among the members of a society with minimum variation. For example, the Romans used to use salt to pay their soldiers. During that time, salt was scarce and has a huge intrinsic value. They could trade certain quantities of salt for good and services.

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