Question

What is history of money

Answer 1

About 40 million years ago, the Simiiformes infraorder split into Parvorders Platyrrhini (New World Monkeys in South America) and Catarrhini (Apes and Old World Monkeys in Africa). The individuals whose descendants would become Platyrrhini are currently conjectured to have migrated to South America either on a raft of vegetation or via a land bridge. There are two possible rafting routes, either across the Atlantic Ocean from Africa or across the Caribbean from North America. However, there is no fossil record to support the hypothesis of a migration from North America. The land bridge hypothesis relies on the existence of Atlantic Ocean ridges and a fall in the sea level in the Oligocene. This would have either produced a single land bridge or a series of mid-Atlantic islands to act as stepping stones for the migration.

At that time, the Isthmus of Panama had not yet formed. Also, ocean currents and climate were quite different, and the Atlantic Ocean was approximately only 1/3 of the width that it is today based on the current estimate of the Atlantic mid-ocean ridge formation processes spreading rate of 25mm per year.

Answer 2

Answer:

Money, in and of itself, has no actual value; it can be a shell, a metal coin, or a piece of paper. Its value is symbolic; it conveys the importance that people place on it. Money derives its value by virtue of its functions: 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

Explanation:

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.

While most of the time, the terms "money" and "currency" are used interchangeably, there are several theories that suggest that these terms are not identical. According to some theories, money is inherently an intangible concept, while currency is the physical (tangible) manifestation of the intangible concept of money.

By extension, according to this theory, money cannot be touched or smelled. Currency is the coin, note, object, etc. that is presented in the form of money. The basic form of money is numbers; today, the basic form of currency is paper notes, coins, or plastic cards (e.g. credit or debit cards). While this distinction between money and currency is important in some contexts, for the purposes of this article, the terms are used interchangeably.

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