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What is bartering?
It is exchanging one thing for another.
What did people use as money 3,000 years ago?
Shells.
Where were the first coins invented?
In China.
Why were shells valuable?
Because they were beautiful, strong, and rare.
Why were coins not convenient?
Because they were heavy.
What did people use before paper money?
Leather.
Why is paper money better than coins?
Because it is light and easy to carry.
Why did people start using shells instead of bartering?
Because shells were valuable and easier to use.
Where is Lydia today?
In modern-day Turkey.
Why did coins make holes in pockets?
Because they were heavy.
When did paper money appear?
In the 7th century.
Why did it take a long time for other countries to use paper money?
Because it was a new idea and people didn’t trust it at first.
What problem did early banknotes have?
They were easy to copy.
Why were shells considered a good form of money?
Because they were rare and lasted a long time.
How has money changed over time?
From bartering to shells, coins, paper, and electronic money.
What does “precious” mean?
Valuable and rare.
What does “borrow” mean?
To take money and return it later.
What does “currency” mean?
Money used in a country.
Why did bartering become less practical?
Bartering became less practical because people could not always find someone who wanted what they had. As societies grew, trade became more complex and required a standard system.
What advantages did shells have?
Shells were easier to carry, more durable, and widely accepted, which made transactions faster and simpler than bartering.
Why different shapes of coins?
Different shapes may have reflected cultural identity or helped prevent copying and fraud.
What do gold and silver show about value?
What is the same about money then and now?
It is used to buy things
Why did paper money take centuries to be accepted outside China, and what does this suggest about human behavior?
People did not trust new systems easily; it shows resistance to change.
Each stage of money solved one problem but created another. Explain two examples from the text.