Social Studies

Question

Mario paid three bushels of rice for three boxes of wool at the market. What type of money did Mario use for this exchange?
fiat
commodity
representative
goods

2 Answer

  • It  can be deduced from the given that what Mario used as payment for the goods that he acquired is also goods. The answer to this item is commodity. It is a type of money that is not in a form of cash but has a value that can be an exchange for another commodity. 
  • Commodity. It is an object with inherent value.

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