Answer
Commodity Money is money with intrinsic value, such as gold which have uses besides a medium of exchange. Fiat Money does not have an intrinsic value it is used as a medium of exchange because the government assigns value to the money. The U.S. and many countries use fiat money,
Work Step by Step
This question asks to to compare fiat and commodity money and how they are different ( mainly due to functionality). Remember Commodity money is not only used as a medium of exchange.
