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What is money has nothing to do with token

We also consider that what is money has nothing to do with token or commodity itself:

  • USD is money in United States but not in U.K.
  • Gold is not money however gold was money in some countries in the middleages. Historically, such diverse commodities as cigarettes and sharks' teeth have been used as money in some places.
  • A national currency may suddenly cease to be money in a country. This can happen if inflation is so high that people shift to another foreign currency.

 

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9582389

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