Question

Trades before introduction of money , changes brought in by introduction of money and different forms of money since it's introduction .​

Answer 1

Answer:

Money, in and of itself, might have actual value; it can be a shell, a metal coin, or a piece of paper. Its value depends on the importance that people place on it—as a medium of exchange, a unit of measurement, and a storehouse for wealth.

Money allows people to trade goods and services indirectly, it helps communicate the price of goods (prices written in dollar and cents correspond to a numerical amount in your possession, i.e. in your pocket, purse, or wallet), and it provides individuals with a way to store their wealth in the long-term.

KEY TAKEAWAYS

Money conveys the importance that people place on it.

Money allows people to trade goods and services indirectly, communicate the price of goods, and it provides individuals with a way to store their wealth over the long-term.

Before money, people acquired and exchanged goods through a system of bartering, which involves the direct trade of goods and services.

The first region of the world to use an industrial facility to manufacture coins that could be used as currency was in Europe, in the region called Lydia (modern-day Western Turkey), in approximately 600 B.C.

The Chinese were the first to devise a system of paper money, in approximately 770 B.C.

Money is valuable merely because everyone knows that it will be accepted as a form of payment. However, throughout history, both the usage and the form of money have evolved.