Suppose people are using quartz as a medium of exchange.Which term refers to this type of exchange?

Question

Quizplus · Accepted Answer

Commodity money is a type of money that has an intrinsic value, such as gold, silver, or quartz. In this case, people are using quartz as a medium of exchange, which makes it a commodity money. Token money and legal tender refer to other types of money that do not have intrinsic value and are backed by the government. Fiat money is a type of money that is not backed by a physical commodity or government, but instead derives its value from the government's recognition or declaration that it is legal tender.

Suppose People Are Using Quartz as a Medium of Exchange