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Types of Money and Characteristic - Coggle Diagram
Types of Money and Characteristic
commodity money
has an intrinsic value, such as gold, silver, copper, and even tobacco.
consists of objects that have value in and of themselves
durable
divisible
easily exchangeable
rare
fiat money
Does not have intrinsic value
Does not represent an asset in a vault somewhere
Physical money backed by Government
Unlimited Supply
representative money
backed by commodities such as precious metal
An item such as a token or piece of paper that has no intrinsic value
makes use of objects because the holder can exchange them for something else of value
cryptocurrencies
trustless
immutable
decentralized
In digital form