Economy: from barter to modern trade

Before money was invented people exchanged whatever they had.

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Barter is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using money.

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The first official coins started in modern-day Pakinstan.

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Coins spread rapidly in the 6^th century AD.

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International commerce started with the Florin.

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Marco Polo got to know paper money when travelling to India.

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In Europe, the concept of banknotes was first introduced during the 13th century AD , with European banknotes appearing in 1661 in Sweden.

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Diners Club issues the credit card in 1946.

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The European Union was the first economic group adopting a single coin.

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Pound sterling is the new 'single currency' of the European Monetary Union.

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