User:Arj21
WHAT MAKES MONEY VALUABLE
[edit]Money[1] is one of the most common and used products created by humans[2], it has became the fundamental base in exchanging or buying things of all kind. Still, a large number of you readers may wonder, how money [3]got to such a dominent place, why do people use different currencies in different parts of the world and much more.
Content
[edit]1.The different types of methods through which people exchange products before money existed.
[edit]3.Why people use different types of currencies in different parts of the world.
[edit]The different types of methods through which people exchange products before money existed
[edit]There were many different types of methods and types through which people exchange products before money existed.
"Barter system"[6] which was a highly relevant way of exchange, which is nothing, but the direct exchange of one product for another with out any need for a mediator. For example the exchange of a cow for a bull or an exchange of a cow for five goats. This meant that a person doesn't need any thing other than the item he\she whats to exchange. Barter system[7] has been in use since at least around the 6000 BC mark.
Experts and historians say that
[edit]- Early Mesopotamian tribes were the first people to have used bater system[8].
- The Phoenicians soon caught the trend, and started to exchange a varied range of items with major neighbouring cities.
- Bartering system[9] is the oldest known trading system known to man kind.
BARTER SYSTEM'S DIFFERENT NAMES
[edit]- Silent trade A type of Barter System in which people don't speak. Silent trade has many names like the "Dumb barter", "Depot trade", "Stummer Tauschhandel", "Commerce à la muette", and much more.
- Corporate barter: This is a type of Barter system in which large corporate companies barter, either directly or with credits.
- Etc.
Cons of Barter System
[edit]Barter system can be very slow due to negotiations. This is not the only flaw in the "Barter System" the second problem is that if you want to store your wealth, you can't store carrots, apples, banana's, and oranges in your bank acount as thery will spoit in a few days. Even if you but cows, hourses, and sheeps, one needs to take care of them this is called maintenance. If you think of gold, silver, gemstones etc. as a good alternative, you can store them, but it will take a lot of space to store them and if you want to transport them somewhere else it will be a very hard challange.
The reason money became popular
[edit]Money gave people a way to easy way to store their wealth in a lot smaller area than other means like goods which take a lot of space they alsomay cost a lot to maintain them and some of them may even spoil. Money gave people an reliable source of trade mediator, which most people use on a dialy bases.
Slowly, but surely people started to use different kinds of money form different parts of the world. After a few centuries, some currencies developed, others declined till extiction, and a few poped-up now and then.
At first these new born currencies were made of metals, ornaments, and gemstones, because people thought that a exchange unit must have some value, so that it can be used even if people do not want to trade with that perticular item. This type of currencies were even used by kingdoms and cities in the me
But this began to change as republics and modern countries began to form, the government made people think that currencies have value even this was done because governments and countries could not create so much currencies made of valuable materials like silve, gold, copper, etc.
This trend is often used by nearly all nationof all sizes and types, but soon people began to create and forge fake copies of major currencies. This led to many increasingly devestating problems like foe example the 1992 Financial Scam which led to the stoch market to collapes and this wiped out 40% of all market value. So lately countries all around the world are trying to make their currencies more and more counterfeit free, using special ink, invisible ink, lines, reflective paint, and other special materials. In the recent years frauds on the bases on currency's have became more and more common. Google[10] reports that "In 2022-23, the number of counterfeit notes in India peaked at 91,110 million pieces (mpcs), which was a 14.6% increase from the previous year. However, the total number of counterfeit notes detected in the banking sector declined slightly in 2023-24 to 85,711 mpcs".
Counterfeits mostly target the currencies, how's value to high, but also watch if the targeted currency is easy to copy or forge in large numbers with any flaw.
Why people use different types of currencies in different parts of the world
[edit]HISTORY OF DIFFERENT CURRENCIES
[edit]Different currencies first originated, when major kingdoms began to form, the rulers of these states want control over these provences, so they set out to control nearly everything in this process different currencies emerged in different parts of regions.This soon led to kings printing coins in which they were housed this was a more to show people that the states rulers were powerful, dominent and much more important that an ordinary person living in the empire.This was made to deter any revolt or revolution that may be in the minds of people in that perticular time period. This can be seen in many ancient coins which were minted by kings from various kingdoms and empires. This tradition continued into the modern age of currencies, but with some key differences.
WHY DO MODERN COUNTRIES HAVE DIFFERENT CURRENCIES
[edit]Some of these traditions leaked into the modern age of currencies, but have some very key and important differences that make these currencies equal to all and don't favour one or a group of people. But still most currency notes or bills will have an at least one personality, how is important to the country and its people is printed in the middle of the bill. Second of all each country has a set of unique tradition, festival, landscape, food, freedom strugle, etc, so each country will want to express it in there currencies, this will not be possible if all nations had one single currency type this willl not be possible. Further more as each country has its own currency, any changes on the currency will tend to favour its own country, and if all countries have a single type of currency then any decision that a country may make will have to first ask other countries for permission to implement it idea, as any change a country may impose can change the state of the currency in which all the nations are involved. This will mean that a countries self decision make athority will be regected and a country would not be able express its traditon, cusine, art, strugles etc.This is the reason, why different countries have different currencies and not a single currency for all the countries.
Some commonly used currencies around the world are the follow.
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- ^ "Human", Wikipedia, 2024-12-04, retrieved 2024-12-08
- ^ "Money", Wikipedia, 2024-11-30, retrieved 2024-12-08
- ^ "Money", Wikipedia, 2024-11-30, retrieved 2024-12-08
- ^ "Money", Wikipedia, 2024-11-30, retrieved 2024-12-08
- ^ "Barter", Wikipedia, 2024-11-20, retrieved 2024-12-08
- ^ "Barter", Wikipedia, 2024-11-20, retrieved 2024-12-08
- ^ "Barter", Wikipedia, 2024-11-20, retrieved 2024-12-08
- ^ "Barter", Wikipedia, 2024-11-20, retrieved 2024-12-08
- ^ "Google". www.google.com. Retrieved 2024-12-08.