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Money: A brief history
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Why can’t governments print money when they like?
It leads to higher prices and money loses its value.
What is ‘fiat money’?
the cash we carry around with us
What was the first ‘paper money’ like?
the first paper money was a type of receipt or note.
What was the disadvantage of silver and gold?
they were heavy to carry around
Why were precious metals used as money?
they maintained their value over time, can be easily translated into prices and were widely accepted.
Why are strawberries unsuitable for use as money?
they last for such a short time
Why did some people use cocoa beans or salt as money in the past?
their uses gave them a basic value
What is the first advantage of a system that uses money, not bartering?
you don't have to find the "right person"
What does the story of the mechanic and the farmer demonstrate?
you have to find the right person to barter with
What happens in a ‘barter economy’?
we exchange items for services


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