Economy, asked by santhanaraj450, 6 days ago

The receipt of goldsmith became

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Answered by AbhayNarayanSingh

Answer:

the goldsmith has a vault, and people come and they put their gold in the vaults, and the goldsmith gives people receipts, and the receipts tell you how much you are able to withdrawal from the goldsmith later. ... So the goldsmith can make money by lending gold to others.

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