Types of Money: Commodity, Fiat & Commercial
Money is a medium of exchange. It allows two people to trade without needing what the other wants.
Money Supply
Money supply looks at what money is and how it is controlled.
Commodity Money: Definition, Examples & Characteristics
We can define Commodity money as a physical good that consumers universally use to trade for other goods. In other words, it is like the money we use today, but has an actual value.
Fiat Money: How it works, Examples, Pros & Cons
Fiat money is a type of currency whereby the value is guaranteed by government decree.
