History of Money

Before the invention of money, how did people buy things?

• By exchanging goods or services

• By using paper money

• By using metallic coins

• By bartering toys

What were some limitations of the barter system?

• Not all goods or services were easily exchaned (ex. a house for a bag of potatoes)

• there weren't all goods that had the same price

• Both A and B

What were some early forms of money used by ancient cultures?

• shells, beads, and stones

• Gold and silver coins

• Paper money

• Digital currency

Where were the first metallic coins made?

• China

• Lydia (now the part of Turkey)

• Egypt

Who invented paper money?

• The Chinese

• The Egyptians

• The Romans

• The Greeks

What problem did the Chinese solve by inventing paper money (notes)?

• The heavy weight of coins

• The lack of real value in coins

What is paper money made from?

• Cotton and linen

• Plastic

• Wood pulp

• Metal

What are some modern ways of using money?

• Using cards to buy things online

• Using phones to pay for things at the store

• Both A and B

What is the future of money?

• It will continue to transform

• It will become completely digital

• It will no longer be used

What is the main purpose of money?

• To buy things and services

• To sell goods and services

• Both A and B