MyStudyPals.com MyStudyPals.com
  • Login
  • Feed

Resources

  • 📰
    Latest School News
  • 📚
    Scholarships
  • 🎓
    JAMB Syllabus
  • 📝
    Jamb Brochure

Information

  • 🔗
    Contact US
  • 🔗
    Privacy Policy
  • 🔗
    Terms and Conditions
  • 🔗
    About US

A form of money that has gone out of use is ?

  • 📑 Past Questions
  • ⌛ Take CBT exam
  • 📟 Referral
  • 🎫 Support
  • 📢 Earnings
Commerce JAMB 2018

A form of money that has gone out of use is ?

  • commodity money checkmark
  • bank money
  • paper money
  • foreign money

The correct answer is: A

Explanation

Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects that have value in themselves (intrinsic value) as well as value in their use as money.
Examples of commodities that have been used as mediums of exchange include gold, silver, copper, salt, peppercorns, tea, large stones (such as Rai stones), decorated belts, shells, alcohol, cigarettes, cannabis, silk, candy, nails, cocoa beans, cowries and barley. These items were sometimes used in a metric of perceived value in conjunction to one another, in various commodity valuation or price system economies.

Previous Question Next Question

Leave A Comment

© 2025 MyStudyPals.com