FM ch 1
UNIT 1: MONEY - WHAT IT IS? A Brief History of Money Money is the fuel that runs our homes and our economies. It has been in circulation in some form or the other since time immemorial. It will be around perhaps for all times to come. Evolution of Money Money is a medium of exchange that allows us to satisfy our needs and wants. The history of money spans thousands of years, with different forms evolving over time. Earliest Examples of Money The shekel used in the ancient kingdom of Babylon. Salt, used as currency in early societies in Europe. Ox-shaped bars of copper during the Bronze Age in the Eastern Mediterranean. Crops like tobacco, rice, wheat, indigo, and maize, which were also used in the barter system as money. Short History of Money ...
