IV Give short answers
1.
Why was money invented?
2. What is ancient money?
3. What were the items used as barter during
olden days?
4. What is spice route? Why was it called so?
5. What is natural money?
3. Money and Credit
Answers
Explanation:
1. No one knows for sure who first invented such money, but historians believe metal objects were first used as money as early as 5,000 B.C. Around 700 B.C., the Lydians became the first Western culture to make coins. Using coins with set values made it easier to compare values and trade money for goods and services.
2. Aureus, basic gold monetary unit of ancient Rome and the Roman world.
3. Leather beads, shells, tobacco, salt, com and even slaves were the items used as barter during olden days.
4. The Spice Routes were, and still are, first and foremost trade routes. The principal and most profitable goods they traded in were spices - giving the routes their name. As early as 2000 BC, spices such as cinnamon from Sri Lanka and cassia from China found their way along the Spice Routes to the Middle East.
5. Natural Money is a comprehensive solution for a financial system with negative interest rates. Natural Money is interest-free money with a holding fee.