Minting coins (the first “money”) originated (most likely) in the need to reimburse mercenaries.

Burdened by Homework? Let us write your essays and assignments Order This Now

Please, choose three of those and explain – each in one paragraph. Do not quote or copy, render the sense as you understand it.
1 Minting coins (the first “money”) originated (most likely) in the need to reimburse mercenaries.
2 Ingots were first minted into coins in Lydia 7th c. BCE – major incentive for commerce.
3 Promissory notes (bills of exchange) supplemented direct exchange of full-bodied money since the 13th c.
4 Banks collected deposits and lent beyond reserves using “token money” – fractional banking, beginning in the 17th c.
5 Central banks provide credit for governments issuing notes that have to be used in the payment of taxes.
6 Using the technique of ‘discounting’ financiers developed markets for capital in the 19th c.
7 Financial capital does not correspond to available goods and services, greatly surpassing their supply.
Open the document: “The evolution of money: an outline of six stages”

Burdened by Homework? Let us write your essays and assignments Order This Now

Leave a comment