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.
Learn more about commodity money here:
brainly.com/question/13146777
#SPJ4
Answer:
The Vienna summit was a summit meeting held on June 4, 1961, in Vienna, Austria, between President John F. Kennedy of the United States and Premier Nikita Khrushchev of the Soviet Union. The leaders of the two superpowers of the Cold War era discussed numerous issues in the relationship between their countries. ... Between 1945 and 1961, 2.7 million East Germans emigrated from East
They were drastically different. Hopes this helps
