Commodity Money

question 222

Multiple Choice

Commodity money

• A)has value independent of its use as money.
• B)has little to no value independent of its use as money.
• C)is backed by a valuable commodity such as gold.
• D)can be used to purchase commodities,but not services.

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Definitions:

Accord And Satisfaction

A contractual agreement where a dispute is settled by the parties involved agreeing to give and accept something of value in resolution.

Condition

A stipulation or prerequisite in a contract or agreement that must be met for the agreement to be fully enforceable.

Off-campus Neighborhoods

Residential areas located outside the boundaries of a college or university campus, often inhabited by students.

Operation Of Law

Legal changes that occur automatically due to existing laws, without the need for action by the parties involved.