Explain the changing nature
of money with the help of
diagolam and
and pictures pester
[
Answers
Answered by
0
Answer:
The FINANCIAL -- Speech By Christine Lagarde, IMF Managing Director at the Singapore Fintech Festival
When commerce was local, centered around the town square, money in the form of tokens—metal coins—was sufficient. And it was efficient.
The exchange of coins from one hand to another settled transactions. So long as the coins were valid—determined by glancing, scratching, or even biting into them—it did not matter which hands held them.
But as commerce moved to ships, like those that passed through Singapore, and covered increasingly greater distances, carrying coins became expensive, risky, and cumbersome.
Chinese paper money—introduced in the 9th century—
Similar questions