Question

Provide one example for each of the following: commodity money, representative money, and fiat money. Which one do you believe had the most value? Why?

Answer 1

Commodity Money that is used as a means of exchange such as gold, silver, copper, salt, peppercorns, tea, giant stones.Some of the examples of commodity money are gold and Silver coins.

The term representative money has been used for different means. Representative money is an object such as a token or piece of paper that has no natural value but can be replaced on demand for a stock that does have natural value, such as gold, silver, and copper.

Fiat money does not have any inherent value. For example paper money and coinage.

I believe that community money is most valuable because it acts as medium of exchange and can support financial institutions and organizations to fund local businesses and individuals within the same community or geographic area.

Answer 2

Commodity money : gold, Silver
Representative money : Paper check
Flat money : Currencies

For me , the one that had the most values will be commodity money because it is the most liquid form of money from the three

hope this helps