Question

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Answer 1

Answer:

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.The Spice Routes, also known as Maritime Silk Roads, is the name given to the network of sea routes that link the East with the West. They stretch from the west coast of Japan, through the islands of Indonesia, around India to the lands of the Middle East - and from there, across the Mediterranean to Europe.

3.Foreign exchange, or forex, is the conversion of one country's currency into another. In a free economy, a country's currency is valued according to the laws of supply and demand. In other words, a currency's value can be pegged to another country's currency, such as the U.S. dollar, or even to a basket of currencies.

Answer 2

Answer:-

1》Money was invented in order to prevent the double coincidence of wants. Before money was invented, there was a system known as the barter system in which there was a exchange of goods. But sometimes, two peoples might not want the thing the another person has.

For example, let's take the case of 3 people Ram, Shyam and Dabbu. Let us assume that Ram has rice but he wants wheat. Shyam has wheat but he wants shoes and Dabbu has shoes but wants rice. Here, no one can exchange goods because there is a double coincidence of wants. To resolve this issue, money was created.

2》Spice route:- Spice route refers to the roads and routes of trade of different spices such as cinnamon, pepper etc. to different countries such as northeast Africa, Europe and Asia.

It is known as spice route because spice was being traded through this route.

3》Foreign exchange:- Foreign exchange refers to the exchange of money from foreign companies or Multinational companies either through online currency like bitcoin or in cash or bank to bank way.