Commonly accepted and widely used money that has no intrinsic value is known as

Name: Commonly accepted and widely used money that has no intrinsic value is known as
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Question

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Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. Its value comes from the trust that people have in the government that issued it. Unlike commodity money, which is based on the value of the material from which it is made, fiat money has no intrinsic value.

Commonly Accepted and Widely Used Money That Has No Intrinsic