HISTORY
ANCIENT CHINA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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civil service
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currency
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extended family
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philosophy
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Detailed explanation-1: -The money used by people of a particular country is known as currency. Different countries have different currencies. e.g. India has indian rupees as its currency, USA has US Dollar, UK has euro, etc.
Detailed explanation-2: -The 4 different types of money as classified by the economists are commercial money, fiduciary money, fiat money, commodity money. Money whose value comes from a commodity of which it is made is known as commodity money.
Detailed explanation-3: -One can classify currencies into three monetary systems: fiat money, commodity money, and representative money, depending on what guarantees a currency’s value (the economy at large vs.
Detailed explanation-4: -Two types of currencies: refuge and commodity.