Posts Tagged ‘Types of Money’

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Three Types of Money in One Minute: Commodity Money, Representative Money and Fiat Money/Currency

In this video, you will learn about three types of money. Over thousands of years, people have been exchanging commodities as a means to purchase or to sell. This is called commodity money. They used commodities like gold, silver, etc. But this was limited by the amounts of commodities that they carry with them for exchange. So, this led to the emergence of representative money. In this case, the money was pegged […]