The correct answer is B. Commodity money has value in itself, while fiat money has value only because it is given value.
Explanation:
Commodity money includes elements such as silver, gold, alcohol, or tea that have a value in themselves because they are considered goods; but can also be used to obtain other goods or services. For example, in Ancient China, tea could be used to obtain other goods.
On the other hand, fiat money such as regular coins or dollars, has value because the government establishes its value, and similar to commodity money, it can be used to obtain goods and services. Thus, the option that best explains the difference between these two concepts is B.
Answer:
Commodity money has value in itself while fiat money has value only because it is given value
verified on a p e x
