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Questions and Answers
Why did ancient societies move from bartering to using objects like cowrie shells for trade?
Why did ancient societies move from bartering to using objects like cowrie shells for trade?
- To introduce a standardized unit of value for trade. (correct)
- To showcase their wealth and status.
- To limit the types of goods that could be traded.
- To make trading more complex and challenging.
What was a significant limitation of the bartering system that led to the introduction of objects as a form of money?
What was a significant limitation of the bartering system that led to the introduction of objects as a form of money?
- Difficulty in finding people willing to trade.
- Overabundance of goods available for trade.
- Lack of interest in exchanging goods.
- Lack of consensus on the value of goods. (correct)
What made cowrie shells a suitable form of money in ancient times?
What made cowrie shells a suitable form of money in ancient times?
- Their lack of recognition among various societies.
- Their ability to represent equal value. (correct)
- Their large size and impracticality.
- Their scarcity and rarity.
How did the introduction of coins revolutionize trade during ancient times?
How did the introduction of coins revolutionize trade during ancient times?
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What is one advantage that coins made of precious metals had over other forms of money in ancient times?
What is one advantage that coins made of precious metals had over other forms of money in ancient times?
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How did the use of cheques and debit cards impact the evolution of money?
How did the use of cheques and debit cards impact the evolution of money?
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What role did technological advancements play in the development of various forms of money?
What role did technological advancements play in the development of various forms of money?
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