Podcast
Questions and Answers
Approximately 20,000 years ago, people primarily engaged in activities such as hunting, ______, and bartering for survival.
Approximately 20,000 years ago, people primarily engaged in activities such as hunting, ______, and bartering for survival.
gathering
In the period between 9000 and 6000 BCE, a significant shift occurred as people started utilizing both livestock and ______ as a form of currency.
In the period between 9000 and 6000 BCE, a significant shift occurred as people started utilizing both livestock and ______ as a form of currency.
crops
The rudimentary forms of banking can be traced back to the years 3000–2000 BCE, signifying the early stages of ______ systems.
The rudimentary forms of banking can be traced back to the years 3000–2000 BCE, signifying the early stages of ______ systems.
financial
From 1500 BCE to the 1950s, ______ money gained widespread usage across diverse regions, including China and Africa.
From 1500 BCE to the 1950s, ______ money gained widespread usage across diverse regions, including China and Africa.
In China, between 1000 and 300 BCE, distinctive forms of currency known as spade and ______ money were prevalent in transactions.
In China, between 1000 and 300 BCE, distinctive forms of currency known as spade and ______ money were prevalent in transactions.
The emergence of gold and ______ coins as common forms of currency occurred between 640 and 269 BCE, revolutionizing monetary systems.
The emergence of gold and ______ coins as common forms of currency occurred between 640 and 269 BCE, revolutionizing monetary systems.
The introduction of the first ______ in 118 BCE marked a significant milestone in the evolution of currency.
The introduction of the first ______ in 118 BCE marked a significant milestone in the evolution of currency.
The advent of the first ______ money in China occurred between 806 and 821 CE, revolutionizing monetary systems.
The advent of the first ______ money in China occurred between 806 and 821 CE, revolutionizing monetary systems.
In 1816, England's decision to embrace the ______ standard significantly impacted global monetary policies and practices.
In 1816, England's decision to embrace the ______ standard significantly impacted global monetary policies and practices.
The abandonment of the gold standard by America in ______ marked the conclusion of this monetary system, triggering a major change in global financial practices.
The abandonment of the gold standard by America in ______ marked the conclusion of this monetary system, triggering a major change in global financial practices.
Flashcards
20,000 Years Ago: Early Economy
20,000 Years Ago: Early Economy
The earliest economic activities involving hunting, gathering, and direct exchange of goods and services.
9000–6000 BCE: Livestock and Crops as Money
9000–6000 BCE: Livestock and Crops as Money
Early forms of currency where livestock and crops were used as a medium of exchange.
3000–2000 BCE: Banking Begins
3000–2000 BCE: Banking Begins
The inception of financial institutions that managed and stored wealth.
1500 BCE–1950s: Shell Money
1500 BCE–1950s: Shell Money
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1000–300 BCE: Spade and Knife Money
1000–300 BCE: Spade and Knife Money
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640–269 BCE: Gold and Silver Coins
640–269 BCE: Gold and Silver Coins
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118 BCE: First Banknotes
118 BCE: First Banknotes
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806–821 CE: First Paper Money in China
806–821 CE: First Paper Money in China
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1880–1944: Gold Standard
1880–1944: Gold Standard
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Today: Modern Money
Today: Modern Money
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Study Notes
- 20,000 years ago, people relied on hunting, gathering, and bartering for resources.
- Between 9000 and 6000 BCE, livestock and crops were used as a form of currency.
- Banking practices emerged around 3000–2000 BCE.
- Shell money was used in China, Africa, and other regions from 1500 BCE to the 1950s.
- Spade and knife money circulated in China from 1000–300 BCE.
- Gold and silver coins gained widespread use between 640–269 BCE.
- Banknotes first appeared in 118 BCE.
- Paper money was introduced in China between 806–821 CE.
- England adopted the gold standard in 1816.
- From 1880–1944 most countries based their currencies on the gold standard.
- Britain abandoned the gold standard in 1931.
- The gold standard system ended when America moved away from it in 1971.
- Today, forms of include coins, paper, and digital currency.
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