Money that a government has required to be accepted in settlement of debts is

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Legal tender is money that a government has required to be accepted in settlement of debts. Fiat money has value only because of government regulation or law, while commodity money derives its value from the commodity itself such as gold or silver. Barter money refers to a system of exchange where goods or services are directly traded without using a medium of exchange (like money).

Money That a Government Has Required to Be Accepted in Settlement