Money that has value apart from its use as money is called
A) fiat money.
B) currency.
C) convertible paper money.
D) commodity money.

Question

Quizplus · Accepted Answer

Commodity money has intrinsic value or worth, which means it has value even without being used as money. Examples of commodity money include gold, silver, and precious stones. Fiat money, on the other hand, does not have any intrinsic value and is valuable only because the government declares it to be so. Currency refers to any form of money in circulation, while convertible paper money is a type of currency that can be exchanged for a commodity such as gold or silver.

Money That Has Value Apart from Its Use as Money