A Type of Money Made from a Substance That Is

question 309

Multiple Choice

A type of money made from a substance that is also valuable is called:

• A) fiat money.
• B) economic money.
• C) metallic money.
• D) commodity money.

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Definitions:

Conforming Goods

Goods that meet the specifications and standards outlined in a sales contract.

Legal Tender

Money that must be accepted if offered in payment of a debt; the legally recognized form of payment within a given jurisdiction.

Incidental Damages

Damages awarded for losses indirectly, but closely, attributed to a breach to cover any expenses paid out by an innocent party to prevent further loss.

Breach

A violation or infringement of a law, obligation, standard, or contract.