Question

The evolution of money that we see and use in modern times is a result or outcome of a long historical process of economic needs and necessities in financial or commercial transactions. comment.

Answer 1

Answer:

Some of the major stages through which money has evolved are as follows: (i) Commodity Money (ii) Metallic Money (iii) Paper Money (iv) Credit Money (v) Plastic Money. Money has evolved through different stages according to the time, place and circumstances.

Answer 2

The history of money concerns the development of social and economic systems that provide at least one of the functions of money.