HISTORY
ANCIENT GREECE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money was small and shiny.
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Money was worth more.
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Money was small and easier to trade.
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Money was shiny and easier to trade.
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Detailed explanation-1: -Although the money and barter systems have the same role, money has more advantages than the barter system. Money is better than the barter system because; it is durable, portable, interchangeable, easily divisible into smaller units, and is universally recognized by most people.
Detailed explanation-2: -Coinage as commodity money owes its success largely to its portability, durability, transportability and inherent value. Additionally, political leaders could control the production of coins – from mining, smelting, minting-as well as their circulation and use.
Detailed explanation-3: -Precious metals were adopted as mediums of exchange because they contained many of the features that made such mediums work well. Coins made of precious metals were portable and easy to use. The precious metal content of coins could be standardised and checked.
Detailed explanation-4: -The barter system often creates an unbalanced system of trade, where parties are unable to find others willing to trade. The barter system also lacks a common unit of measurement for goods and services. Since most goods depreciate with time, they become less attractive for trade and storing value.