Karen used her silver receipt representative money to purchase a bike. Luke purchased two dozen eggs with commodity money and six apples.
Chris used coins from the government's flat money to purchase a bagel.
<h3>What is commodity money?</h3>
- Money that derives its worth from the commodity from which it is made is known as commodity money.
- Commodity money is made up of things that have worth or utility beyond only being exchangeable for products (intrinsic value).
- This contrasts with fiat money, which derives its value from having been established as money by government regulation, and representational money, which has no intrinsic worth but instead represents something valuable like gold or silver, which can be exchanged.
<h3>What is flat money?</h3>
- A form of currency known as fiat money is not backed by any physical good, like gold or silver.
- Usually, the government declares something to be legal tender through a decree.
- Fiat money has occasionally been created throughout history by regional banks and other organizations.
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The statement which describes a result of the Spanish-American War was that a) the United States acquired territories in the Pacific and the Caribbean. This was because of the Treaty of Paris which was signed in 1898 where negotiations were made for the United States to gain temporary control over Cuba and the ownership of Puerto Rico, Guam and the Philippines was given from Spain to the United States. In return, the United States had to pay a lump sum to Spain to gain acess to the Philippines.
The war broke out between the two
A major difference between Adam Smith's view of economics and that of present-day capitalist theory is that Adam Smith viewed value as a product of labor, and thus operated under the Labor Theory of Value, which was used by basically all economists until the Labor Theory of Value became central to Marxism.
Answer:
Because occasionally, they would need to carry a baby back to the hospital in Hyden, then the nurse midwives brought the babies in their saddlebags.
Explanation:
