Asked by Nancy Torres on Jun 11, 2024
Verified
Money, such as gold, with some intrinsic value is called _____. Money with no intrinsic value is called _____.
Intrinsic Value
The inherent worth of an asset, independent of its market price, determined by its fundamental characteristics and earning potential.
- Differentiate between commodity money and fiat money, and understand the intrinsic value of each.
Verified Answer
CG
Learning Objectives
- Differentiate between commodity money and fiat money, and understand the intrinsic value of each.