Money
Main points
1-Money Is used to pay for what we buy. it can be coins,notes or money In bank accounts.
2-thousands of years ago,there was no money.people used the barter system of trading.then,things such as sharks' teeth and sea shells were used as money
3- gold and sliver were used as they were scarce;they looked beautiful and did not rust .they were used in Lydia 600 BC and their coins had a stamped design .they were a convenient method of payment.
4-the Chinese were the first to use paper money .In the 13th century,the explorer Marco polo was amazed to see paper money there.
5-In the 17th century, people put their gold in banks and got papers notes which they exchanged for the gold when needed.
6-Then,cheques were used.A cheque is an order to the bank to pay money to another person .Cheques are printed by banks .However,they can be written on anything.People protesting about their taxes, wrote cheques on cows, or even bananas!
7-The credit card is the most modern way of buying goods and services.
8- Most countries in Europe are now using the same currency ,"The Euro" .It goes back to the Roman empire when they had the same money all over their countries. In the same way ,The Arabs had the same currency at one time,"The Dinar"In all their countries.
Main points
1-Money Is used to pay for what we buy. it can be coins,notes or money In bank accounts.
2-thousands of years ago,there was no money.people used the barter system of trading.then,things such as sharks' teeth and sea shells were used as money
3- gold and sliver were used as they were scarce;they looked beautiful and did not rust .they were used in Lydia 600 BC and their coins had a stamped design .they were a convenient method of payment.
4-the Chinese were the first to use paper money .In the 13th century,the explorer Marco polo was amazed to see paper money there.
5-In the 17th century, people put their gold in banks and got papers notes which they exchanged for the gold when needed.
6-Then,cheques were used.A cheque is an order to the bank to pay money to another person .Cheques are printed by banks .However,they can be written on anything.People protesting about their taxes, wrote cheques on cows, or even bananas!
7-The credit card is the most modern way of buying goods and services.
8- Most countries in Europe are now using the same currency ,"The Euro" .It goes back to the Roman empire when they had the same money all over their countries. In the same way ,The Arabs had the same currency at one time,"The Dinar"In all their countries.
