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3 cards from this section. Quick, good the night before a test.
What is commodity money?
Think of items that have worth beside being used as currency.
What is fiat money?
Consider the money we use every day!
What type of money has intrinsic value?
Think of valuable materials used throughout history.
Fiat money is considered valuable because of which reason?
This type of money is common in today's transactions.
Evaluate the impact of fiat money on global trade.
Consider how economies depend on trade and perception of currency stability.
How might the shift towards digital currencies affect the traditional concept of bank money?
Reflect on how technology alters traditional systems.
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