Commodity money refers to money that has value and is backed by a physical commodity, such as gold or silver. Historically, it has been used to facilitate trading and used as a medium of exchange. Commodity money is different from fiat money, which is only given value by a government and is not backed by any physical goods.

The first scenario mentioned in the search results is a scenario involving movement of the monetary stock supply curve as an endogenous result of the market effects of movement in the ppg. This scenario does not directly involve commodity money, as it is not mentioned in the article and does not have anything to do with the value of physical goods.

The second scenario referred to in the search results is the one involving the three main functions of money, how commodity money differs from representative money, and how both differ from today’s fiat money. This scenario involves both commodity money and fiat money, as it outlines the differences between them. Commodity money is described as a physical good that has intrinsic value, while fiat money is described as only having value as established by a government.

The third scenario mentioned in the search results is a scenario involving commodity money itself. This scenario outlines what commodity money is, why it has value, and provides examples of goods that have been used as commodity money in the past, such as alcohol, cocoa beans, and copper.

In conclusion, the third scenario involving commodity money is the one that is relevant to this query. This scenario provides a comprehensive description of what commodity money is and why it has value.