how the coins came in exestance ? (atm?)
Answers
Answer:
The basic definition of money is anything that is commonly accepted by a group of people in exchange for goods, services, or resources. Every country has its own exchange system of coins and paper money.
In the beginning, people bartered. Bartering is the exchange of goods or services for other goods or services. For example, someone might swap a bag of rice for a bag of beans and call it an even exchange; or someone might trade the repair of a wagon wheel in exchange for a blanket and some coffee. One major problem with the barter system was that there was no standardized rate of exchange. What would happen if the parties involved couldn't agree that the goods or services being swapped were of equal value, or if the person in need of goods or services had nothing the person who had them wanted? No deal! To solve this problem, humans developed what is called commodity money.
A commodity is a basic item that's used by almost everyone in a given society. In the past, things such as salt, tea, tobacco, cattle, and seeds were considered commodities and therefore, were once used as money. However, using commodities as money created difficulties. For instance, lugging heavy bags of salt or dragging recalcitrant oxen around could prove practical or logistical nightmares. Using commodities for trade led to other problems as well, as many were difficult to store and could also be highly perishable. When the commodity traded involved a service, disputes also arose if that service failed to live up to expectations (realistic or not).
Explanation:
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