We cannot eat money,wear it or live in it but people need it to feed,clothe and house themselves.People use money to pay for the things they wants to buy.It is a means of exchange that works as long as the buyer and the seller both agree on the value of the paper,metal or plastic used to pay.Money works as a standard of value,allowing one to see how much goods are worth.It also provides a store of wealth more convenient than other things of value,such as property before money was invented,people battered,swapping one item for another.
THE ORIGIN OF MONEY
The earliest records of money being used come from ancient mesopotamia9modern Iraq) some 4500 years ago.Payments were made with weighed amounts of silver.Since then,weighed amounts of metal have been used as money in many places worldwide.
WEIGHT
Weighing the precious metal showed how much a person had and what it war worth.
PRICE LIST
This clay tablet contains a price list written in mesopotamia in the 19th century BC.It express prices in terms of shekels and minas,the standard weights of the time .One shekel of silver would buy twelve mina of bronze,three measures of barley,or three measured of sersaue oil.
GOLD STANDARD
TYPES OF MONEY
The most familiar forms of money are coins and bank notes also known as cash.Much of the money stored in a bank exists not as piles of notes,but as data stored in computers.To spend it,people use cheques and plastic cards.
COINS
The first were made in lydia,Turkey C.6ooBC.Early coins were made of precious metal,like aluminium.
CHEQUE
A cheque is a written instruction to a bank to pay money to someone.For security reasons,cheques nare often unusable without identification,such as a cheque gurantee card.
THE ORIGIN OF MONEY
The earliest records of money being used come from ancient mesopotamia9modern Iraq) some 4500 years ago.Payments were made with weighed amounts of silver.Since then,weighed amounts of metal have been used as money in many places worldwide.
WEIGHT
Weighing the precious metal showed how much a person had and what it war worth.
PRICE LIST
This clay tablet contains a price list written in mesopotamia in the 19th century BC.It express prices in terms of shekels and minas,the standard weights of the time .One shekel of silver would buy twelve mina of bronze,three measures of barley,or three measured of sersaue oil.
GOLD STANDARD
TYPES OF MONEY
The most familiar forms of money are coins and bank notes also known as cash.Much of the money stored in a bank exists not as piles of notes,but as data stored in computers.To spend it,people use cheques and plastic cards.
COINS
The first were made in lydia,Turkey C.6ooBC.Early coins were made of precious metal,like aluminium.
CHEQUE
A cheque is a written instruction to a bank to pay money to someone.For security reasons,cheques nare often unusable without identification,such as a cheque gurantee card.
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