History Of Money Flashcards
1
Q
What acts as a medium of exchange
A
Money
2
Q
Money didn’t organise in one place but developed in different societies ard the world like :
A
Africa , Asia , china & Fiji
3
Q
In Africa and Asia what was seen as a store of value
A
Cowrie shells
4
Q
In Africa and Asia what was seen as a store of value
A
Cowrie shells
5
Q
What did the Chinese see as coins
A
Spades, hoes & knives
6
Q
Define bartering
A
Bartering: Exchanging goods or services without using money.
7
Q
Define promissory notes
A
Promissory notes: A signed document where one person promises to pay another a specific amount by a certain time.
8
Q
Where & When was paper money evolved
A
In china ( AD 950 )
