Over the centuries many different objects e.g. feathers, shells and precious metals have been used as currency in exchange for goods and services.
There was a time when goods were exchanged for other desirable goods and this was called barter trade. Problems were encountered with this form of trade, as a farmer could not find one supplier of all goods and services he desired in exchange for his cow.
When the barter trade collapsed it gave way to the use of precious metals as a form of exchange.Then this form of payment also experienced problems because the value of the gold compared to the goods and services had to be established.
During this period only goldsmiths had safes.So the people in town would deposit their precious metals and valuables with them for safekeeping.For every deposit, a receipt would be issued. The receipts were promissory notes payable on demand and became a convenient means of payment. This was the origin of bank notes. The bank notes obtained their value for the gold they presented in the deposits.The Promissory notes were used as a form of payment.
what is the historical development of psychology during the ancient period
when was the trace the development of computers invented?
i don't know this is why i asked
The ancient symbol for money holds significance in historical economies as it represents a medium of exchange that facilitated trade and economic transactions. This symbol played a crucial role in the development of complex economic systems, enabling individuals to acquire goods and services, accumulate wealth, and establish value for goods and services.
To provide an accurate response, I would need to see the specific quotation you are referring to. Please share the quotation, and I'll be happy to help analyze the historical development it describes.
someone asnwer this question
The US
what is the historical development of psychology during the ancient period
The web address of the Historical Architecture Development is: kirkmanhousemuseum.org
the historical development of computer traced back to 3000 bc discus
when was the trace the development of computers invented?
systems development control
The web address of the Santa Anna Historical Development Organization is: www.santaannatex.org
i don't know this is why i asked
Read this book.
Check your answer
The address of the Historical Architecture Development is: 214 North Colville Street, Walla Walla, WA 99362