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Money the Medium of Exchange

  • Date Submitted: 01/06/2012 08:58 AM
  • Flesch-Kincaid Score: 67.3 
  • Words: 538
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MONEY-MEDIUM OF EXCHANGE
In past, decade’s people use to exchange goods with each other. If one need any product than he has to give or pay the thing again that product to the sailor. Many people found difficulty in that.
There is unknown saying that, “Money is better than the barter.” It is very easy to buy any product on the cash. In another word it is very easy to pay money against any product if you want to buy any product just one thing you have to do is to pay equivalent money against that product.
Now days, the paper notes, coins, bank cheques, debit cards, credit cards, ATM’s card, notes and bills are used as the money. The coins that we use in our daily routine of buying and selling are made of quantity of specific material equivalent to that amount of money. Internationally coins and paper notes and sometimes debit card and credit card are used as money. Coins, paper money and plastic money are three main types of money. Plastic money includes debit card and credit card and etc.
The barter system was much famous from 9000 – 6000 BC. Lates on when people found difficulty with barter, in china at about 1200 BC, at the end of the stone age, mock cowry shallow become money and they mere the newly form of coins. For instance, in china tools like knives and spades, were also used a money.in 500 BC, in Lydia or turkey, silver coins were first found. Imprinted gods and emperors on the silver coins show the value of coin. Later these coins were further improved by the Greek, Persians Macedonians and roman empires. The Chinese coins were relied on the base metal, but the roman, Greece, Persian, Macedonians coins were composed from scarce metals such as bronze, gold and silver. In 118BC, in china the bank notes of leather were used. Vivid color edged, white deer skins one-foot peace was used for a bank –note. Most of the people think that this is the starting of paper money.
The actual paper currency was used in china from 9th century to 15th century AD.in 1455...

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