Objects that have value because the holder can exchange them for something else of value is called representative money.
This money serves as a medium to exchange goods and services. This kind of money is backed by something of value, in opposition to fiat money. It could be gold or silver. Representative money is accepted everywhere because it has a value of its own, backed by precious metals that support the value of the money.
<span>Objects that have value because the holder can exchange them for something else of value is called representative money. The correct option among all the options that are given in the question is option "c". The other choices given are incorrect. I hope that the answer has come to your help.</span>
