Because money has become abstract, it depends entirely on:

Question

Quizplus · Accepted Answer

Money's value and function in modern economies are fundamentally based on trust, particularly the trust that individuals and institutions have in its ability to serve as a medium of exchange, a store of value, and a unit of account. This trust is crucial for fiat money, which does not have intrinsic value or is not backed by a physical commodity like gold or silver. Instead, its value comes from the trust and confidence that people have in the issuing authority's ability to maintain its value.

Because Money Has Become Abstract, It Depends Entirely On