What Is The Difference Between Commodity Money Representative Money And Fiat Money? Fiat money is physical money—both paper money and coins—while representative money is a form of currency that represents the intent to pay, such as a check. … Fiat money is backed by the government, while representative money can be backed by different assets
What Is The Best Definition Of Money? Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a
How Does Money Serve As A Medium Of Exchange? First, money serves as a medium of exchange, which means that money acts as an intermediary between the buyer and the seller. … This money is then used to buy shoes. To serve as a medium of exchange, money must be very widely accepted as a
How Much Money Are There In The World? There is around $40 trillion in physical money present globally. This amount can touch a quadrillion if cryptocurrencies, broad money (M2 and M3) and investments and derivatives are added to that total. How much money is there in the world 2021? All told, anyone looking for all
How Much Is Ab? Represantation Real Value Pronounced As 1 B 1 x 109 One Billion 1 T 1 x 1012 One Trillion 1 aa 1 x 1015 One Quadrillion 1 ab 1 x 1018One Quintillion What is AA in money? 1? So, one quadrillion (1015) will be represented with aa. For every power of