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Fiat vs. Representative Money: What's the Difference?
Fiat money is physical currency—paper money and coins—while representative money is something that represents the intent to pay, such as a check.
Fiat Money vs. Legal Tender: What’s the Difference?
Learn more about fiat currency and legal tender. Find out how these terms are used by economists to describe different types of money.
Fiat Money: What It Is, How It Works, Example, Pros & Cons
Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver.
Digital Money: What It Is, How It Works, Types, and Examples
Digital money or digital currency is any type of payment that exists purely in electronic form and is accounted for and transferred using computers.
Understanding Money: Its Properties, Types, and Uses
Money is a medium of exchange that can be used to facilitate transactions for goods and services.
Inflation: What It Is, How It Can Be Controlled, and Extreme Examples
Inflation is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy.
What Is a Central Bank Digital Currency (CBDC)?
Central Bank Digital Currency (CBDC) is the digital form of a country's fiat currency, which is regulated by its central bank.
What Will a U.S. Central Bank Digital Currency Look Like?
What would a U.S. central bank digital currency (CBDC) be? Learn more about the future of a digital dollar and how it would differ from cryptocurrency.
How Currency Works
Currency offers key advantages over economies based on direct trade, including a broader market for sellers' goods and services and transport ease.
Gold Standard: Definition, How It Works, and Example
The gold standard is a system in which a country's government allows its currency to be freely converted into fixed amounts of gold.