Objects that have value because the holder can exchange them for something else of value is called

a.
fiat money

c.
representative money

b.
commodity money

d.
uniformed money

The correct answer is C) representative money.

Objects that have value because the holder can exchange them for something else of value is called representative money.

This money serves as a medium to exchange goods and services. This kind of money is backed by something of value, in opposition to fiat money. It could be gold or silver. Representative money is accepted everywhere because it has a value of its own, backed by precious metals that support the value of the money.

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