1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Helga [31]
3 years ago
6

Anyone plz summarize this?Buying things today is so simple. Just enter a shop, say a book store, choose the desired book and pay

for it. Long ago, before the invention of money, how did people trade?
The most primitive way of exchange should be the barter trade. In this form of transaction, people used goods to exchange for the things that they had in mind. For instance, if person A wanted a book and he had a spare goat, he must look for someone who had the exact opposite, that is, that someone, say person B, must have a spare book of person A's choice and is also in need of a goat. Having found such a person, the problem does not end here. A big goat may worth not only one book, hence person B may have to offer person A something else, say five chickens. However, he runs the risk of person A rejecting the offer as he may not need the chickens. The above example clearly illustrates the inefficiency of barter trading.
Many years later, the cumbersome barter trade finally gave way to the monetary form of exchange when the idea of money was invented. In the early days, almost anything could qualify as money: beads, shells and even fishing hooks. Then in a region near Turkey, gold coins were used as money. In the beginning, each coin had a different denomination. It was only later, in about 700 BC, that Gyges, the king of Lydia, standardized the value of each coin and even printed his name on the coins.
Monetary means of transaction at first beat the traditional barter trade. However, as time went by, the thought of carrying a ponderous pouch of coins for shopping appeared not only troublesome but thieves attracting. Hence, the Greek and Roman traders who bought goods from people faraway cities, invented checks to solve the problem. Not only are paper checks easy to carry around, they discouraged robbery as these checks can only be used by the person whose name is printed on the notes. Following this idea, banks later issued notes in exchange for gold deposited with them. These bank notes can then be used as cash. Finally, governments of today adopted the idea and began to print paper money, backed by gold for the country's use.
Today, besides enjoying the convenience of using paper notes as the mode of exchange, technology has led man to invent other means of transaction too like the credit and cash cards
English
1 answer:
natta225 [31]3 years ago
8 0
We take money for granted
The most primitive way to buy was to trade. This is exchanging one item for another but one item may have more value than the other so would be unfair. The other downside is that the other person may not want the item, no matter how much worth it has. The next idea was ‘money’ which would be anything from gold coins to seashells. This proved cumbersome to Greek and Roman traders so the idea of cheques sprouted. These could only be cashed by the person whose name was on them. This idea was opted by the government and began to print paper money.
This lead to paper notes being used till today along with other inventions such as credit and debit cards.
You might be interested in
Change this phrase into its pasive form :
Anna11 [10]

The proper way to write these sentences in the passive form is: Sunshine is given to me, Some rain is given to me, and Another change is given to me.

<h3>What is the passive voice?</h3>

The passive voice is a grammatical structure that is characterized by presenting the subject as passive, while the action performed by the verb is performed by a complement.

Some examples of passive voice are:

  • Sunshine is given to me.
  • Some rain is given to me.
  • Another change is given to me.

Learn more about passive voice in: brainly.com/question/85850

#SPJ1

4 0
1 year ago
Which detail should be included in a summary of Elizabeth van Lews role as a spymaster during civil war?
Jlenok [28]

Answer:

3

Explanation:

" In 1864, she sent three messages weekly" this has more to do with being a spy than the other options. Hope this helped :)

6 0
3 years ago
What are inner thoughts?
IRISSAK [1]

Answer:Personal Thoughts

Explanation: The thoughts that you could interpret better then anyone.

4 0
2 years ago
Read 2 more answers
Any 1 wanna join a g00gle m33t?<br><br> cyf-bbgz-qhg<br><br> there is the c0de :)
lara31 [8.8K]

Answer:

sure

Explanation:

6 0
2 years ago
How does the organizational structure of this passage about the French and
givi [52]

Answer:

A. To inform readers about the early stages of the war, the author uses a chronological structure to describe the outcome of each battle.

Explanation:

In the given passage, the author informs us about the battles that took place at the beginning of the French and Indian War and their outcomes. He does this in chronological order, which means that he tells us about them in the order they happened. This is why option A is the correct one.

Option B is incorrect because the author doesn't give us information about what each side was fighting for.

Options C and D are incorrect because the purpose of the given passage is not to persuade.

5 0
2 years ago
Other questions:
  • Hey, I'm reading a book and I want to know what this question mean.
    7·2 answers
  • Select the correct adjective form for the following sentence.
    12·2 answers
  • Highlight the adverb.
    5·2 answers
  • What is a W.A.P<br><br> Get right=$20
    7·2 answers
  • Listen to the audio and then answer the following question. Feel free to listen to the audio as many times as
    15·1 answer
  • Which rhetorical device does the below scenario depict?
    11·1 answer
  • Write a short note on Rosè from black pink.​
    14·1 answer
  • Give the structure or parts of a report.<br>1<br>2<br>3<br>4<br>5<br>6<br>7<br>8<br>9<br>10<br>​
    15·1 answer
  • Go where you may, search where you will, roam through all the monarchies and despotisms of the Old World, travel through South A
    8·1 answer
  • Select the correct text in the passage.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!