An instrument used in lieu of legal tender is known as ______?
A. Token money B. commodity money C. fiat money D. representative
Correct Answer: B
Explanation
Money is a type of asset in an economy that is used to buy goods and services from other people. A commodity is a physical item that is interchangeable with another item of the same type or value. This is the use of specific commodity as a form of money. Its value as a piece of metal is the same with its value as a piece of money.