History of Money Essay -- GCSE Business Marketing Coursework

History of Money Let us get word a problem. You catch fish for your food supply, but youre tired of have it every day. Instead you want to eat some bread. Fortunately, a baker lives next door. Trading the baker some fish for bread is an exercising of barter, the direct exchange of one good for another. However, barter is difficult when you shew to obtain a good from a producer that doesnt want what you have. For example, how do you get shoes if the shoemaker doesnt like fish? The series of trades postulate to obtain shoes could be complicated and time consuming. Early societies set about these problems. The solution was money. Money is an item, or commodity, that is agreed to be accepted in trade. Over the years, people have used a wide flesh of items for money, such as seashells, beads, tea, fish hooks, fur, cattle and even tobacco. There be numerous myths about the origins of money. The concept of money is often confused with coinage. Coins are a relatively modern form of money. Their first appearance was in all likelihood among the Lydians, in Asia Minor in the 7th century BC. And whether these coins were used as money in the modern sense has also been questioned. To determine the earlier use of money, we need to define what we mean by money. The early Persians deposited their cereal grass in state or church grainaries. The receipts of deposit were and then used as methods of payment in the economies. Thus, banks were invented before coins. Ancient Egypt had a similar system...