Question

Buying things today is so simple, just enter a shop, say a bookstore, 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 was the barter trade, in this form of

transaction, people used goods to exchange for the things that they needed.

They managed their daily needs by this kind of exchange, in course of time, this

system gave way to th monetary from of exchange when the idea of money

weas invendted. In the early days, almost anything could qualify as money:

beads, shells and even fishing hooks, they in a region near turkey, gold coins were

used as money. In the beginning, eacxh coin has d different denomination. It

was only later, in about 700 BC, that Gyges, the king of Lydia, standardiesed the

value of each coin and even printed his name of the coins.

Monetary means of transaction at first beat the traditional barter trede,

however as time went by, the thought of carring, a ponderous pouch of coins for

shopping appeared not only troublesome but attracted theieves. Hense the

greek and roman treders who bought goods from people from faraway cities,

invented cheques to solve the promble. Not only are paper cheques easy to

carry around, they discouranged 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 government of today adopted the idea and began

to print paper money, backed by gold for the country’s use.

Today, besides enjpying the convenience of using paper notes as the

mode of exchange, technology has led man to invent other means of

transdaction too like the credit and debit cards. summarize the paragraph ​

Answer 1

Answer:

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