What are the characteristics of money including commodity money fiat money and representative money?

Money has several key characteristics, including durability, portability, divisibility, uniformity, and acceptability. Commodity money is based on a physical good, like gold or silver, which has intrinsic value. Fiat money, on the other hand, has no intrinsic value and is established as money by government regulation or law, relying on trust in the issuing authority. Representative money represents a claim on a commodity and can be exchanged for it, like a gold certificate, but does not have intrinsic value itself.