Question

Provide one example for each of the following: commodity money, representative money, and fiat money. Which one do you believe had the most value? Why? all has to be used and in your own words

Answer 1

Commodity Money is used as a means of exchange such as gold, silver, copper, salt, peppercorns, tea, giant stones. Some of the examples of commodity money are gold and silver coins.

The term representative money has been used for different means. Representative money is an object such as a token or piece of paper that has no natural value but can be replaced on demand for a stock that does have natural value, such as gold, silver, and copper.

Fiat money does not have any inherent value. For example paper money and coinage.

I believe that commodity money is most valuable because it acts as a medium of exchange and can support financial institutions and organizations to fund local businesses and individuals within the same community or geographic area.

Answer 2

commodity money is money that comes from the object (commodity) that which it is made and it consists of objects having value or use within themselves Some examples of commodity money are gold, silver, copper, salt, peppercorns, tea, decorated belts, shells, alcohol, cigarettes, silk, candy, nails, cocoa beans, cowries, and barley.

representative money is any type of exchange, most often printed on paper, and it represents something of value, but it actually has little or no value of its own-however it must have some intrinsic value to support the face value An example of representative money is a token or piece or paper with no intrinsic paper but that can be exchanged for a commodity on demand.

fiat money is government-established currency (money) with no intrinsic value, unlike representative money, and it does not have use value because the government controls and maintains its value or because parties taking part in money exchanges agree on the value given An example of fiat money is gold or silver.

Step-by-step explanation:

I think representative money had the most value because it is often known as commodity-backed money, and while commodity money comes from objects of value, representaive money allows buyers to exchange for other things of value, and in general, get anything of value. Representative value may have no value of its own but its value is greater when dealing with commodities.