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7 March, 21:30

Which of these scenarios involves commodity money?

A girl writes a check to her friend for a stack of valuable comic books.

B boy starts a lemonade stand and sells each drink for twenty-five cents.

C woman offers her neighbor a US silver dollar in exchange for a bicycle.

D man buys some T-shirts and pays with a US fifty-dollar bill.

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  1. 7 March, 22:53
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    The correct answer should be A. A girl writes a check to her friend for a stack of valuable comic books. This is commodity money because the stack of comics has a value on its own regardless of the money that was given for it. The comic books could be even more important and expensive for someone who collects them as they are rare and valuable. That's why many people invest in comic books and buy them hoping to one day sell them for a lot of money.
  2. 7 March, 23:45
    0
    Money is an economic tool used in the purchase of goods and services. A commodity is a physical thing. Indeed, the value of the commodity money comes from what it is made of. It is called an intrinsic value. When we say "commodity money", not the commodity, it means that object used as a commodity has an intrinsic value, as well as it has a value when it is used as money. In all the answers above, except C we can see the case in which commodity money is involved. They exchange money and commodity, money for the bicycle.
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