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CBSE Class 10 Answered

what is ment by fiat  
Asked by rsraman24x7 | 20 Mar, 2019, 12:34: PM
answered-by-expert Expert Answer

From the question we assume that the doubt is on the concept of Fiat money.

Fiat money refers to the form of money that includes coins and notes which is issued by the order/authority of the government and is used as a medium of exchange. 

Fiat money is backed by the government of the government of the country it doesnot have an intrinsic value.

 

Answered by Christina | 20 Mar, 2019, 04:13: PM

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