Commodity money ?
Correct answer: B. has intrinsic value
- A. has no intrinsic value
- B. has intrinsic value
- C. is used exclusively in the economies of western Europe and north America
- D. is used as reserves to back fiat money
Explanation
Commodity money is itself a valuable good, such as gold, silver, or cattle, so it has intrinsic or non-monetary value. Fiat money, in contrast, has little or no intrinsic value and depends mainly on trust and legal acceptance.
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