Fiat money/Definition: Difference between revisions
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imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity).) |
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<noinclude>{{Subpages}}</noinclude> | <noinclude>{{Subpages}}</noinclude> | ||
money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity). | money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity or cost of production). | ||
Latest revision as of 09:24, 30 November 2008
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Fiat money [r]: money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity or cost of production).