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1546

Q: Which of the following is an example of representative money?

  • 1
    Salt
  • 2
    A tract of land
  • 3
    Gold
  • 4
    A check
  • Show Answer
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Answer : 4. "A check"
Explanation :

Answer: D) A check Explanation: Representative money is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper,...   Hence, a Check is an example of representative money.

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