At first almost anything was used in trade, as long as the buyer and seller could agree on the value of the item being traded. A pig might be traded for a few sacks of grain, or a cow for a wagon, etc. However this barter system often failed if the two could not agree on the realtive value of the items being traded.
In time metal coins were produced with a standard value which people could use in trade. All tradeable items then were given a value acording to a certain number of coins, with some variations. Copper or bronze coins were most often used in day to day purchases, with silver coins used for more expensive trades. Gold coins were also made but rarely used as they were quite valueable. In addition since gold is a very soft metal they were easily damaged if handled too much, which reduced their value.
In time to avoid the trouble of carrying around heavy coinage, merchants began giving each other vouchers which promised the holder a specific quantity of coins. this worked well as long as the merchant actually had the cash to back up the vouchers he issued, however unscrupulous merchants often issued vouchers in value far exceeding what they were capable of honouring in payment. There was also the risk of people making counterfeit vouchers which looked like a valid payment, but had no redeemable value.
In time governemnts began issuing offical paper money, which were backed by reserves of gold and/or silver which gave more stablity to the paper money system, as governments were much less likely to go bankrupt. In addition governments more able to take measures against counterfeiting with a standard money system.
With the advent of computers, it has become possible to do commercial transactions electronicly. In such cases no actual money changes hands, but the values of the bank accounts of buyer and seller can be instantly modified according to the agreed value of the transaction. This allows people to avoid the hassle and risk of carrying cash. :)))
shape mayby
They had changed over time
The practice of lending money for interest is known as usury. This involves charging a fee for the use of borrowed money, typically expressed as a percentage over a period of time.
Evolution of animals occurs over time due to adaptations through survival of the fittest. For example: The human skull has changed over many years, due to the adaptations in the way we eat. We know longer climb tree's to eat. - Also relates to the human tail (coccyx) ceasing to exist.
Pangea!!!
new technology richer more money and improved materials.
new technology richer more money and improved materials.
how the anemometer changed over time
The laws of physics have not changed over time. Our understanding of them has changed over time.
how has coal mining changed over time
over time the payment methods changed, varying from silk as a monetary form of payment to paper money
People changed over time by growing up.
no they have changed over time. no they have changed over time.
how has neils bohr model changed over time
well it has changed over time bye people dancing it different styles.
how the seismograph change over time
his skills changed