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3000 BCE
THE INVENTION OF MONEY
Historians fin it hard to pinpoint the exact moment that the concept of money was invented. Barter and exchange were the main way of trading goods and services. -
Period: 2500 BCE to 600
MAKING METALS
Ancient Egyptians were making metal rings which some historians think they used as money.
By 1100 BC in China, there was a system of using miniature replicas of the objects instead of the real objects.
Between 700 and 600BC were made the first coins.They were made in Turkey. -
Period: to
400 TO 200 YEARS AGO
Europeans were using more and more metal coins.The use of precious metals in coins meant that the mooney could be trated because it held a value.
In 1685 Canadian colonies began to use paper money too and this innovation led to a huge increase in international trade.
In the english colonies of the West Indies half a real was four bits and a quarter was two bits, a phrase used by people in the USA today. -
MONEY TODAY
In the modern woeld many people use plastic cards called debit card to pay things.The cards transfer money from their bank account to the shop´s bank account.
People also use money they don´t even have yet by paying with credit cards. They then pay the money back later.
Economic booms and crises happen when confidence in money increasses or desseases
