Question

What is the difference between commodity money and representative money?

Answer 1

Commodity money consists of objects that have value in and of themselves, but representative money makes use of objects because the holder can exchange them for something else of value.

Step-by-step explanation:

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Answer 2

Commodity money is something that used as the medium of exchange that has value in its own right. For example, gold, silver, cigarette. representative money is commodity backed money.