In the hypothetical economy you described, rice serves both as a medium of exchange (money) and as a consumer good. Since rice has intrinsic value as a good, it is classified as commodity money.
So the correct response is: commodity money.
Responses
representative money.
representative money.
fiat money.
fiat money.
currency.
currency.
commodity money.
commodity money.
1 answer
In the hypothetical economy you described, rice serves both as a medium of exchange (money) and as a consumer good. Since rice has intrinsic value as a good, it is classified as commodity money.
So the correct response is: commodity money.