If an economy uses diamonds as money, then that economy's money

A) was commodity money.
B) had no intrinsic value.
C) was fiat money.
D) had no store of value.

Commodity Money

Money that has intrinsic value because it is made of materials that hold value, like gold or silver.

Fiat Money

Currency that a government has declared to be legal tender, despite it having no intrinsic value and not being backed by physical commodities.

Intrinsic Value

The inherent worth of an asset, independent of its market price, often based on what is fundamentally valuable about the asset.