Explain in your own opinion in about 150 words, how the advent of
currency has revolutionized our lives.
Answers
Answer:
as we know that currency is double coincidence of want so as we know that we can buy easily with paper money and due to this has revolutionized the world
Answer:
Perhaps one of the biggest impacts that the invention of paper money had in Asia was the diminishing value of bronze, copper, and iron coins. Once the Southern Song tied their paper notes to silver, the intrinsic value of metal coins declined, which resulted in much of those metals being exported to Japan.
The history of money concerns the development of social systems that provide at least one of the functions of money. Such systems can be understood as means of trading wealth indirectly; not directly as with barter. Money is a mechanism that facilitates this process.
Money may take a physical form as in coins and notes, or may exist as a written or electronic account. It may have intrinsic value (commodity money), be legally exchangeable for something with intrinsic value (representative money), or only have nominal value
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