Question

what is full bodied money and credit money?

Answer 1

Heya...

√ Full body money
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It refers to the money in terms of coins whose commodity value is equal to the money value aa when they issued...

Means the item is used in making that money is same costly as the money value...

As in olden days the coins of gold and silver issued by the Kings...

√ Credit money
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It refers to the money of which money value is greater than commodity value...

Means the paper using to made that money is not costly as the value of that note...

Current using paper notes...

Thank you

Answer 2

Answer:

The value of representative full-bodied money is much higher than its value as a commodity. It is accepted as money as it can be conveniently used for carrying out transactions. Credit money refers to the money whose intrinsic value (as a commodity) is much lower than its face value. 2.3