Question

what were considered as the form of money when civilization was developing​

Answer 1

Answer:

With progress of human civilization, commodity money changed into metallic money. Metals like gold, silver, copper, etc. were used as they could be easily handled and their quantity can be easily ascertained. It was the main form of money throughout the major portion of recorded history.

Answer 2

Answer:

The following are some of the important stages in the evolution of money: Commodity money, metallic money, paper money, credit money, and plastic money are all examples of money.

According to the time, place, and circumstances, money has gone through several stages.

1. Commodity Money: During the dawn of human civilization, any commodity that was widely requested and agreed upon as money was used.

2. Metallic Money: As human civilization progressed, commodity money gave manner to metal money. Metals including gold, silver, copper, and different comparable metals have been selected due to the fact they may be clean to deal with and quantify. Throughout maximum of recorded history, it became the number one shape of currency.

3. Paper Money: It was discovered that transporting gold and silver coins was both difficult and risky. As a result, the invention of paper money constituted a watershed moment in the history of money. The country's central bank regulates and controls paper money (RBI in India). At the moment, the majority of money is made up of currency notes or paper money issued by central banks.

4. Money in Credit:The emergence of credit money happened practically simultaneously with the emergence of paper money. People maintain a portion of their cash in bank accounts, which they can withdraw at any time using checks. The cheque (also known as credit money or bank money) is not money in and of itself, but it serves the same purpose.

5. Plastic Money: Plastic money in the form of credit cards and debit cards is the most recent sort of money. They aim to eliminate the necessity for people to carry currency when conducting transactions.

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