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    Roziarnedah Zor
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    COMMODITY MONEY used physical commodities its intrinsic or physical value is as great its face value. Examples of early commodity monies are like wool, boats, sheep and corn. Later, people started using metals like gold and silver. Present international monetary system Examples of fiat money are coins and papers money also called the currency.

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    ECO 553

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    COMMODITY MONEY used physical commodities its intrinsic or physical value is as great its face value. Examples of early commodity monies are like wool, boats, sheep and corn. Later, people started using metals like gold and silver. Present international monetary system Examples of fiat money are coins and papers money also called the currency.

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    400 views4 pages

    Eco 553

    Uploaded by

    Roziarnedah Zor
    COMMODITY MONEY used physical commodities its intrinsic or physical value is as great its face value. Examples of early commodity monies are like wool, boats, sheep and corn. Later, people started using metals like gold and silver. Present international monetary system Examples of fiat money are coins and papers money also called the currency.

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    of 4

    MARA UNIVERSITY OF TECHNOLOGY

    ECO 553 MONETARY ECONOMICS


    PREPARED BY: 2008xxxxxx 2008xxxxxx

    Q7(a)
    

    COMMODITY MONEY
      

    Fiat money
       

    Used physical commodities Its intrinsic or physical value is as great its face value. Examples of early commodity monies are like wool, boats, sheep and corn. Later, people started using metals like gold and silver.
    

    present international monetary system Examples of fiat money are coins and papers money also called the currency And every country has their own currency

    Bank money
     

    Is the money issued by bank Example is checks

    Q7(b)
    

    Electronic money (also known as e-money) refers to money eor scrip which is exchanged only electronically The main focuses:  wider range of hardware  generally be used over an internet

    Q7(c)
    

    It is give the positive changes on the economies


    manage their time effectively  potential to reduce the use of currency  technically feasible to implement a comprehensive communications system
    

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