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What is the difference between commodity money and representative money
the difference between representative money and fiat money is that?A)representative money can be converted into silveror gold;fiat money cannot.B)representative money is worth more per dollar than fiat money; which is actually worthless.C)fiat money is counted in coins; representative money is counted in paper.D)fiat money is mre traditional than representative money,which is a newer concept. :)
The sample is of little use in making estimates for the population as a whole unless it is known exactly how it is non-representative.
puppys
Representative money
money bills
an IOU note
some disadvantages of commodity money are its not portable, durable, or divisible, it usually works in small economies
A) Commodity money consists of objects used as money that contains their own value, but representative money is a specific group of the commodity objects. B) 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. C) Representative money allows objects to be exchanged for something else, but commodity money has value because the government decreed it is an acceptable means to pay debts. D) Representative money consists of objects that have value in and of themselves, but commodity money makes use of objects because the holder can exchange them for something else of value The answer is B.
advantages: Money, Fun Disadvantages: injuries
A large trial is necessary to provide good sample that is representative of the population