The Journey of Money and Currencies

What is the barter system?

• A method of exchanging information between countries

• A system where currency is used for trade

• The barter system is a method of exchange where goods and services are traded directly for other goods and services.

• A way to store goods for future use

How did people trade before money existed?

• People traded using a system of written contracts.

• People traded through barter, exchanging goods and services directly without money.

• People used coins made of metal for trade.

• People relied on credit systems to exchange goods.

What were some common items used in barter?

• Grains, livestock, tools, textiles, crafts

• Jewellery

• Coins

• Spices

When did coins first appear in history?

• Around 500 BC

• Around 500 CE

• Around 300 BC

• Around 1000 BC

What materials were early coins made from?

• Plastic, paper, glass, and rubber

• Gold, silver, copper, and bronze

• Wood, fabric, stone, and clay

• Aluminum, tin, lead, and zinc

Which civilization is credited with creating the first gold coins?

• Greeks

• Lydians

• Romans

• Phoenicians

How did coins help improve trade?

• Coins improved trade by providing a standardized medium of exchange, simplifying transactions and enabling trade over greater distances.

• Coins were used primarily for decoration and had no impact on trade.

• Coins made trade more complicated by requiring multiple exchanges.

• Coins were only used in local markets and did not facilitate long-distance trade.

When and where was paper money first used?

• Paper money was invented in the United States in the 180 AD

• Paper money was first used in Europe in the 102 AD

• Paper money was first used in India around the 505 AD

• Paper money was first used in China around the 806 AD

Which country was the first to use paper money?

• China

• Greece

• Egypt

• India

What are some advantages of using paper money over coins?

• Paper money is heavier than coins.

• Coins are easier to carry in large amounts.

• Coins are more durable than paper money.

• Advantages of using paper money over coins include portability, ease of handling for larger transactions, and less space required in wallets.