MONEY

What was the primary method of trade before money was invented?

• Digital transactions

• Using coins

• Paper money

• Bartering goods

What significant change did standardized coins bring to trade?

• Increased the value of goods

• Eliminated the need for trade

• Created a universal medium of exchange

• Made trade more complex

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What innovation followed the use of coins in currency?

• Precious metals

• Digital currencies

• Barter systems

• Paper money

What does modern financial systems rely on?

• Abstract representations of value

• Physical commodities

• Barter systems

• Paper money

How has money evolved in recent times?

• It has become less important

• It is only used in local markets

• It is now only physical

• It has shifted to digital currencies