Question

Write answers in one word :

1) Explain the characteristics of money ?

2) Explain the invention and usage of coins ?

3) Explain bartering and commodity money ?

4) Explain the evolution of money ?​

Answer 1

Answer:

1. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.

2.Coins were introduced as a method of payment around the 6th or 5th century BCE. The invention of coins is still shrouded in mystery: According to Herdotous (I, 94), coins were first minted by the Lydians, while Aristotle claims that the first coins were minted by Demodike of Kyrme, the wife of King Midas of Phrygia.

3.Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.

4.Briefly, evolution of money was mainly through commodity money, metallic money, paper money and bank money. ... Human beings passed through a stage when money was not in use and goods were exchanged directly for one another. Such exchange of goods for goods was called Barter Exchange

Answer 2

Above answer is correct