What is money?

Front

The process of directly exchanging one good or service for another.

Back

Bartering

Front

Metals were used as money for at least

Back

4000 years

Front

Coined metal or paper money upon which a government has impressed its stamp to designate its value is known as

Back

Currency

Front

Today, most paper money is called

Back

Fiat money

Front

In past, paper money used to be backed by

Back

Gold and silver

Front

To avoid the difficulties of barter, what evolved?

Back

money, gold, silver

Front

Who were the first people to introduce the use of gold and silver coins?

Back

Lydians

Front

Many _______________communities took metals as their standard of value.

Back

ancient, modern, local

Front

The currency used in UAE is

Back

Dirham

Front

The new invention of money that appeared about 300 years ago is

Back

paper currency