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Question Practice

What does it mean when currency is called 'fiat money'?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 10
Social Science
Understanding Economic Development
MONEY AND CREDIT
Question Bank

What does it mean when currenc...

Single Answer MCQ
Q-00015821

What does it mean when currency is called 'fiat money'?

1

It has intrinsic value

2

It is backed by gold

3

Its value is determined by government decree

4

It is accepted universally

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Q4.

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