How has money as a medium of exchange transformed over time? Class 7
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How has money as a medium of exchange transformed over time? Class 7
How has money as a medium of exchange transformed over time? Class 7
Answer:
Money has changed a lot over time in the following way:
- It started with barter system, where people exchanged goods and services without money.
- Then, metal coins were used, make the trade easy.
- Then the paper money issued by the governnment making it easier to carry.
- Now, we even use digital money like debit and credit cards and QR codes for payments.
- This evolution has made buying and selling much simpler and faster!