Evolution of Money

Which discovery helped in the introduction of money as a medium of exchange

• Metal

• Forging techniques

Which country invented paper money?

• India

• China

How long have people been using money?

• 3000 years

• 2000 years

• 1000 years

• 4000 years

Paper Money was first developed in __________.

• China

• India

• Morocco

• USA

What did people use before money was invented?

• Checks

• Bartering

• Cryptocurrency

• Credit cards

What did the Chinese create as the first form of money?

• Paper money

• Gold coins

• Circular coins

• Silver bars

Why is it important to understand the history of money?

• Understanding money is only relevant for economists.

• Money has always been the same throughout history.

• It is important to understand the history of money to comprehend the evolution of economic systems and the role of currency in society.

• The history of money is not connected to modern technology.

List two types of money used in history.

• Barter system

• Commodity money, Fiat money

• Gold standard

• Digital currency

How did coins change the way people traded?

• Coins made trade more complicated and less efficient.

• Coins eliminated the need for any form of barter.

• Coins were only used for decorative purposes in trade.

• Coins transformed trade by providing a standardized medium of exchange, simplifying transactions and enabling commerce to flourish.

What was one of the earliest forms of money used by ancient civilizations?

• Shells

• Paper

• Digital currency

• Credit cards