Question

Silver certificates are a certificate of ownership that silver owners hold instead of storing the actual silver. This is an example of:

Answer choices :
a. fiat money.
b. near-moneys.
c. commodity money.
d. commodity-backed money.

Answer 1

option D

Step-by-step explanation:

The correct answer is option D.

Commodity backed money is the money which can be exchanged on demand of specific commodity.

Commodity money is the money in which commodity is used itself like gold, silver, salt, alcohol,cigarette, etc.

in the question silver certificate is used for the ownership of silver instead of actual silver is an example of commodity-backed money