Something that is not in the physical form of currency, but represents the intent to pay money. A paper check from a banking institution is an example of representative money. The check is not a physical piece of money, but it implies the intent to repay.
Related information about representative money:
- Representative money - Wikipedia, the free encyclopedia
The term representative money has been used variously to mean: a claim on a commodity, for example gold certificates or silver certificates. In this sense it may ...
- What is representative money? definition and meaning
Definition of representative money: Something that is not in the physical form of currency, but represents the intent to pay money. A paper check from a banking ...
- Types of Money
An economist would tall you that what gives money its value depends on what type of money it is: commodity money, representative money, or fiat money.
- Representative money - Merriam-Webster Online
paper money backed by an equal amount of gold or silver coin or bullion held by a government. This word doesn't usually appear in our free dictionary, but the ...
- XVI. Representative Money - Library of Economics and Liberty
67), is in some degree representative money, because it derives its value, not so much from the metal it contains as from the standard coins for which it can be ...
- What Is Representative Money? | eHow.com
What Is Representative Money?. What became of the expression "solid as a dollar?" The U.S. Department of the Treasury says our currency, called fiat money , ...
- Representative money
The term representative money has been used variously to mean: a claim on a ... Historically, the use of representative money predates the invention of coinage.
- Representative Money. - Money and the Mechanism of Exchange
Edition used: Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876). Author: William Stanley Jevons ...