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Transcript of Money aruzhan
A thousand years ago people used to barter which means to trade the value was important it had to be light,last long and have value for example a cow would be traded for 2 pigs because a cow can walk by itself has value and has a lot of meat ,also it might have calf's.
A currency is an object or something that you can barter with.This is what currency should be like light, (not heavy or it can walk by itself) valuable ,or rare also hard to find.
A coin has to be made out of precious metals ,rare,easily shaped and weighed.
Later when the years past, they were made
out of pure gold and silver .They're minted.
Rough and crude.
Chinese paper money ,T'sai Lun invented the paper for the money 1,900 years ago .Butr 700 years later they ran out of copper so insted they pressed by hand using wooden blocks.
The banks keep track of the money that has been saved by checks.With Debit cards you could take cash from bank accounts.But with credit cards if you borrow money from the bank you have to pay the same amount back to the bank.It's called an interest if the interest gets bigger and bigger it takes longer to pay back to the bank.
How mankind has evolved over time.
Invisible Money (continued)
Debit and credit cards are made of a special plastic that lasts a long time. The person's name and his or her number is placed to one side next to the banks name. At the top there is a piece of a magnetic strip that is encoded, this means that it is written or printed in a special code, this magnetic strip has several important information about that persons bank account. When that person swipes the card, the card-reading machine looks to see if it has enough money in it. If there is enough the money, then it goes automatically to either the: restaurants, cafes, malls or company's account. I think this will be an easy decision but anyway don't you think that carrying around a piece of precious plastic than I don't know how many bills is easier (told you it would be easy!) To addition to that your cards have all your needed information on them and are protected by a code so it will be less likely for someone to steal it. But before you go and say credit and debit cards are legendary. Like all things they can be dangerous, people often forget to pay back the money that they owe so they end up with so much money that they owe to the bank that often the bank takes aback or repossess the bought items. So be very careful!