Economics GCSE

Fiat money

What Fiat money means in Economics GCSE, as defined for AQA.

Definition of Fiat money

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Read the wording for your board, then hide it and explain Fiat money in your own words. Rough notes are fine. This is a self-check, with no mark or grade.

Reference: AQA

Money such as modern banknotes and coins that has value simply because a government declares it as legal tender and people trust it.

AQA · The role of money

Topics that use Fiat money

The role of money (AQA GCSE)

Related terms

Using Fiat money in the exam

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All Economics GCSE terms