The history of money is a long and fascinating one. Before coins and paper bills existed, people used the "barter system." This meant they traded items they had for items they needed—for example, a bag of salt for a piece of cloth. However, this system was difficult because you had to find someone who wanted exactly what you had. Later, people used shells or stones as currency. By the time the first metal coins appeared in Lydia (modern-day Turkey), civilizations had already been trading for thousands of years. The first paper money was used in China during the 7th century. Today, we are moving toward a "cashless society" where people use digital numbers on a screen. Many people had never imagined a world without physical cash, but it is quickly becoming our reality. Choose the correct answer.
1. What was the "barter system"?
2. Why was bartering difficult?
3. Where were the first metal coins made?
4. When was paper money first used?
5. What is a "cashless society"?
You must answer all questions before submitting the quiz.
