Money originated as commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money is without intrinsic use value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private"
Friday, 16 September 2011 09:34
Consequat feugiat montes eleifendWritten by Super User
Read 1496 times
Published in Category K2 Tab2