What are the types of money.. in economics
1.Commodity money: Money that has intrinsic value, such as gold, silver, or other precious metals.
2.Fiat money: Money that is not backed by a physical commodity, but by the government's guarantee of its value.
3.Fiduciary money: Money that is backed by a government or issuing authority, such as paper currency or coins.
4.Digital money: Money that exists only in electronic form, such as bank deposits, debit cards, or cryptocurrencies.
5.Representative money: Money that is backed by a physical asset, such as a gold certificate or a silver coin, but can be exchanged for other goods and services.
6.Commodity-backed money: Money that is backed by a physical commodity, such as gold or silver, but can also be used as a medium of exchange for other goods and services.