Definition Of Representative Money. The term representative money has been used variously to mean: Another example of representative money was tobacco notes.
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So representative money is similar to fiat money in that it is generally made of paper, but it represents a quantity of a commodity. (a democratic republic), the uk (a constitutional monarchy), and france (a unitary state). Any type of money that has face value greater than its value as material substance.
Representative, As In A Political Convention.
Used in this sense, fiat money is a type of representative money. Currency notes and coins are. Representative money the term representative money has been used variously to mean:
Money Is An Asset In An Economy That People Use Regularly To Purchase Goods And Services From Other People.
The term representative money has been used variously to mean: We sometimes refer to commodity or representative money as ‘backed currency.’ all national currencies today that are in circulation, and that central banks issue and manage, are fiat currencies. Paper certificates can be representative money when the paper certificates can be exchanged for the valuable asset, such as gold.
Any Type Of Money That Has Face Value Greater Than Its Value As Material Substance.
Representative money definition from encyclopedia dictionaries & glossaries. The stored value represented by the loaned money is transferred from the lender to the borrower in exchange for an agreed quantity of stored. Congress or a state legislature
The Narrow Definition Of Money In Economics Is Based On The Function Of Money As A Medium Of Exchange And Includes In It Only Currency And Chequable Deposits.there May Be Other Assets Which Have A High Degree Of Moneyness Or Liquidity, But Are Not Generally Acceptable In Payment Or There Is A Delay Or Cost Involved In Exchanging Them For Money.
Representative money represents a claim on a commodity. Other forms of representative money are still in place, including. One that represents a constituency as a member of a legislative or other governing body specifically :
A Claim On A Commodity, For Example Gold Certificates Or Silver Certificates.
(the management of) a supply of money: Legal definition of representative (entry 2 of 2) : By contrast, fiat money represents the value that people believe it is worth.
