The Value Of A Medium Of Exchange

currency, shops gave a bill that was to be paid with more silver that was obtained from a

Money has been been a big central network in developing our country today. Back then people used to barter items with others, so they could get different things they may need things like corn, fish, wheat, and etc. Salt was another commodity money salt was very difficult to obtain mainly in the inner countries and it is very good to cook with because it adds flavor to your food. In the south people became so wealthy because they didn't use money either there was a system called “Mit’a” from the age of 15 young Incan males had to do physical labor to state of a set of days. They built public buildings and places in return the government all the basic necessities of life food, clothing, tools, housing and, etc. The first known currency

It was one of the earliest monetary policies to institute the circulation of paper money on a national level. Customers would deposit their gold coins for storage into a bank for a small fee. In return, they received bank receipts, which were then used as paper money in place of valuable elements like gold. The idea of using bank notes as paper money quickly gained popularity because they were, of course, much easier and more convenient to transport and exchange than heavy gold coins.

Before trading became common, people would often trade produce for goods or labor. However, traveling merchants had no use for produce that would quickly rot as they traveled. They began using money, which quickly became the accepted currency. Additionally, they needed standardized measurements to prevent conflicts. If a merchant from one city cut a foot of cloth, and the town where he was trading believed a foot was much larger, it would result in chaos. In 1187, King Richard decreed that all measurements be standardized across England (Robert of Wendover). This created an economy with the possibility of spreading beyond villages. Now, instead of produce or labor that could only be used locally, people could use money which always had the same value everywhere. Merchants could travel and use money to buy goods, and would always be assured of how much of the product they were receiving. They no longer had to haggle over every step of the trade- it was standardized, so they knew what they were getting and what its worth was. It simplified trade for both traders and buyers, and today we still use measurements and money, instead of having a trade-based

Attaching money to good and promising convertibility is recognized as the gold standard. By 1880, furthermost of the world’s main trading nations, together with Great Britain, Germany, Japan, and the US, had accepted the gold standard. Specified a cooperative gold standard, the worth of any money in elements of any additional coinage was informal to

Anything is Money, which is for the most part adequate as a medium of trade, and in the meantime it must go about as a measure and a store of significant worth. Anything suggests a thing to be utilized as cash require not be essentially made out of any valuable metal. The main fundamental condition is that, it should to be generally acknowledged by individuals as a medium of trade.

With new trade routes, people were able to go to different areas to trade around. In 400 AD, the asian trade routes spread approximately 4,000 miles (Doc 5). People were able to trade many items, including cloth, grains, ivory, metals, spices, and many others. Coins were also a major part of trade. Each coin would weigh 8 grams (Doc 4). This made it easier for people to trade because someone could say that what they are selling is 16 grams, so you could just give the person 2 coins since each coin weighs 8 grams. Many coins were made to honor Gupta rulers’ wealth and accomplishment in war, arts, and politics (Doc

The currency has evolved over the time of man. The sense of value created the act of buying goods rather than trading for them. Earth's rarest gems and elements became a common currency throughout the world. Gold was a particularly famous currency in the United States. The event of the gold rush sent Americans out west to attempt to find gold. The United States had already created its national form of currency known as the US dollar. Americans saw great fortunate selling gold for dollars. This event made some Americans wealthy. There are many factors that affect the distribution of wealth in the United States. The time of events and history affect the distribution of wealth in the United States.

Gold was used for many different things and it was valued very much during the past and even now it is valued. A common use of gold was when it had been turned into

Equal Exchange (EE) is company produced in 1986 by three entrepreneurs that had recently graduated college, and who wanted to open a business to support farmers and trade their goods to not harm the environment. They opened the company as a worker-owned cooperative; it is seen as the one worker- one vote model. EE is a mission-driven business model that shows to be sustainable and replicable. Their idea was to connect trade products such as organic food, coffee, tea, and chocolate. EE is more than just a trading company trying to help small farmers make a difference; it is a faith based organization that allows other organizations opportunity to live according to their values. Equal Exchange has several formal partners to help spread the trade of products in the US.

Money Choices - the medium of exchanged used to acquire good, services, and typically used to satisfy debts. Money flow to us from a job, government assistance, child support, family, and/or friends.

A: All societies have some form of money because it makes economic transactions much more convenient and efficient. The purpose of money can be simplified into two main concepts including unit of account and store of value. Money serves as a unit of account which means

So first, how did it money start? There is one example which illuminates some of the important properties of money at the beginning of its existence. Aculture which we found to be heavily studied by academics is that of the the cowrie monetary system. In this system, the king functioned much like our federal reserve system. Through exploiting the people in a brutal ceremony of fattening them and using them as bait at sea, the king as able to bring new money into the monetary system: cowrie shells. The author emphasized two things about this story of the cowrie shells that are believed to abstract to money today. The first is that bartering was the official method of exhanging goods and services before cowrie shells were used. The second, was that powerful figures brought in the concept of money, because it is abstractable to several goods and services, and they controlled when money entered the system. So from the history of money, we can learn that money is some mixture of a power system, and an exchange system for the rich and an exchange system for goods and services for the poor.

There are many alternatives to money. Gold for one has been the alternative for money for centuries. Gold coins are the smallest unit of currency that can actually be traded with another commodity. Since gold follows the 6 properties of ideal money (durability, Portability or Transportability, Divisibility, Uniformity, Non counterfeit ability, Acceptability

Based on the given scenario I will like deploy the Exchange system in different geographical locations(To overcome nature disasters) and which can support backup and site disasters.