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History Of Money

History Of Money. In small communities, they could largely remember the payments and receipts of what was exchanged. Fiat is the Latin word for "let it be done." Money is now given its value by government fiat or decree, ushering in the era of enforceable legal tender, which means that by law, the refusal of "legal tender" money in favor of some other form of payment is illegal.

HISTORY OF MONEY timeline | Timetoast timelines
HISTORY OF MONEY timeline | Timetoast timelines (Lena Rice)
This, gave birth to "bartering", where livestock and grain were exchanged for other items which were deemed. Fiat is the Latin word for "let it be done." Money is now given its value by government fiat or decree, ushering in the era of enforceable legal tender, which means that by law, the refusal of "legal tender" money in favor of some other form of payment is illegal. It is fun and informative—the perfect combination. —Asheville Citizen-Times (syndicated from Jennifer Prince) New money may substitute for old under less extreme conditions.

Before that time, historians generally agree that a system of bartering was likely used.

INTRODUCTION TO MONEY: ORIGIN, HISTORY AND FUNCTIONS Key Concepts Barter, the purpose of money, early and current forms of money Summary This lesson introduces students to types of money (cash, coin) and the purposes of money.

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History of money

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C., early civilizations used a number of different valuable items as early forms of money. Representative money has now been replaced by fiat money. That money was obsidian, and it was extremely valuable due to its use in crafting high-quality tools.

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