What IS Money?
photo credit: srish Beyond saying that money is a medium of exchange, what exactly is money? There are four types of money: 1. Commodity money. Throughout history, people have used different commodities as a form of money: gold, silver, salt, beads, peppercorns, shells, corn, labor, cigarettes, rice, corn, or any “thing” can be used as a form of money. All that’s required for something to become money is someone willing to accept it as such. 2. Representative money. This type of mon
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Tags: Credit, History, Money