3 years ago

The difference between representative money and fiat money is that

2 answers:

7 0

Option A. Representative money can be converted into silver or gold ; fiat money can't be, is the correct answer.

The representative word itself shows that it represents something else. The representative money have no intrinsic value on its own but it represents something which has an intrinsic value like gold or silver. It is a claim on a commodity like gold certificates. On the other hand Fiat money is a legal tender backed by government like currencies in most countries of the world.

MissTica3 years ago

7 0

Answer:

I believe the answer is (A)

Explanation:

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