Money that has value apart from its use as money is known as ______, while money that has value only because the government says it is valuable is known as:

Question

Quizplus · Accepted Answer

Commodity money has intrinsic value, meaning it is valuable in itself (like gold or silver), while fiat money has value because the government decrees it to be legal tender, not because of its physical value or the material it is made from.

Money That Has Value Apart from Its Use as Money