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A form of money that has gone out of use is

Commerce
JAMB 2021

A form of money that has gone out of use is

  • A. paper money
  • B. commodity money
  • C. foreign money
  • D. bank money
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Correct Answer: Option B
Explanation

Commodity money is money whose value comes from a commodity from which it is made of. Examples are gold and silver coins. In the past gold and silver were used as a medium of exchange because they had value in themselves and they could be used in exchange for other goods or services,

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