Lesson 3.docx

Lesson 3: Money A. What is Money? Money is like a special tool that people use to get the things they need or want. It is like a secret code that helps people trade or swap things without actually giving something in return. It is like a secret language that everyone understands and uses to get what...

Lesson 3: Money A. What is Money? Money is like a special tool that people use to get the things they need or want. It is like a secret code that helps people trade or swap things without actually giving something in return. It is like a secret language that everyone understands and uses to get what they want. B. History of Money Long ago, in ancient times, people didn't have money like we do today. Instead, they would trade things they had for things they needed. They might exchange a cow for some wheat, or a basket of apples for a loaf of bread. But as time went on and communities grew, it became harder to trade directly. So, people came up with the idea of using special objects as a form of money. They would use shells, beads, or even valuable metals like gold and silver. Eventually, these special objects were replaced by metal coins and then paper money, which made trading much easier for everyone. C. Types of Money There are various kinds of money that people use. These include coins, paper bills, credit cards, and digital money. Each type of money has its own pros and cons, but they all have the same purpose of helping us purchase the things we need. Coins: Coins are small, round pieces of metal that come in different values. They often have pictures or symbols on them to show how much they are worth. Did You Know? The Lydians, an ancient civilization located in what is now modern-day Turkey, were the first people to invent coins. They made these coins out of a special mix of gold and silver. Other civilizations like the Greeks and Romans started using coins too. The value of the coins depended on how much metal they had, and they had symbols or pictures on them to show who made them. This new way of using money made trading and buying things much simpler. It was a big step in the history of money and helped create the money systems we have now. Paper Money: Paper money is made from special paper and represents different amounts of value. It usually has pictures of important people, famous landmarks, or symbols of the country. Did You Know? The Chinese were the first people to invent paper money. They started using it during the Tang Dynasty. The reason they started using paper money was because it was much easier to carry around than heavy coins. As time went on, other parts of the world also started using paper money. For example, in the 13th century, the Mongols, who ruled a big empire in Asia, started using paper money too. Eventually, paper money became popular in many different countries and regions because it was a convenient way to pay for things. Digital Money: Thanks to technology, we can now use digital money. This is money that exists electronically, like using a bank card or mobile payment apps. It allows us to buy things without needing physical coins or paper money...