Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What was one of the main limitations of the bartering system?
What was one of the main limitations of the bartering system?
Lack of common unit of value
What type of objects did various societies begin using as a base for trade?
What type of objects did various societies begin using as a base for trade?
Objects with an accepted value
What were cowrie shells used for in ancient times?
What were cowrie shells used for in ancient times?
As a form of money
Which civilization introduced coins as a form of money?
Which civilization introduced coins as a form of money?
Signup and view all the answers
What revolutionized trade with the introduction of coins?
What revolutionized trade with the introduction of coins?
Signup and view all the answers
Name a precious metal used in the production of the first coins.
Name a precious metal used in the production of the first coins.
Signup and view all the answers
What aspect of cowrie shells made them suitable for trade?
What aspect of cowrie shells made them suitable for trade?
Signup and view all the answers
What problem did the lack of a common unit of value in bartering create?
What problem did the lack of a common unit of value in bartering create?
Signup and view all the answers
How did coins impact the system of trade?
How did coins impact the system of trade?
Signup and view all the answers
What did the introduction of coins bring to trade?
What did the introduction of coins bring to trade?
Signup and view all the answers
