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Money - Coggle Diagram
Money
Types of Money
Representative money
Representative money is something that represents money.
Fiat money
Fiat money is a currency which has been approved by the government but does not have any innate value.
Commodity money
Commodity money is money which has innate value is considered commodity money.
The Characteristics
Durability
It withstands physical corrosion that happens when being used over and over again.
Divisibility
It can be divided into smaller amounts.
Limited Supply
You can control the amount available
Portability
It is portable for daily use.
Acceptability
People who accept/use it can get what they need or want.
Uniformity
You can count and measure it accurately.