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Commodity money vs. Fiat money | Financial sector | AP Macroeconomics | Khan Academy

June 20, 2016 8:18 361

A brief look at how money has evolved over time from being printed on valuable substances (commodity money), to merely representing those valuable substances (commodity-backed money), to not representing anything at all (fiat money) Fiat money is a government-issued currency that is not backed by a physical commodity but rather by the government that issued it. Fiat money is a government-issued currency that is not backed by a physical commodity but rather by the government that issued it.Learn more. Created by Grant Sanderson.

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AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we’ll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us!

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