THE HISTORY OF FUNDS
[A] The yen, the dollar, the quetzal, and also the peso—no matter the money is called, funds is an important element of life in nearly every tradition today and has been during history. The idea of money dates back thousands of years. Originally, money had not been metal gold coins or daily news bills. Alternatively, people covered things with objects that were useful and so considered important. We occasionally call this commodity cash. Some examples of commodity money used throughout history are iron fingernails, rare seashells, bread, and livestock including pigs or cattle.
[B] Salt and also other spices were also used as money. In fact , the word wage (the cash that employees are paid out weekly or perhaps monthly by their employers) comes from the Latina word salarium meaning a payment produced in salt. The word " He is (not) really worth his salt" is probably derived from this because it was used to mean that they've work was (or wasn't) worth the amount of money (salt) he or she was being paid. There is also evidence that, throughout the Middle Ages, self defense was used being a form of cash, hence this French declaring " Since dear since pepper. " In England, you could actually pay one's lease in self defense! Even in more modern times commodity money has been used in situations where there was no access to genuine currency. A good example of this was during and after World War II in Europe, where cigarettes was frequently used in place of money.
[C] Specific metals, including gold, silver precious metal, and copper, have been employed as item money for thousands of years. Metals had been exchanged as jewelry and nuggets and in the end appeared in the form of coins around 560 M. C. At the. The use of alloys coins because money became widespread following your use of the touchstone was discovered. A touchstone allowed people to discover how much of a specific type of material was a part of a group and therefore identify its value. Eventually, the program of representative money appeared in the form of conventional paper bills. This method is called consultant money since the paper by itself is of little or no intrinsic value but is based on its correlation to a highly valued commodity, just like gold.
[D] Currencies and methods of transaction seem to be regularly evolving. One of this is the use of electronic cash, money that is transferred electronically. Thanks to modern tools and electronic money, folks are now capable of pay all their bills, copy funds from a single account to another, and acquire paychecks from their employers without ever stepping to a bank. It looks like the concept of money is here to stay, although we are most likely still in for more amazing changes in the future.
1 . What is the main idea of the browsing passage?
A. Asset money utilized before cash and newspaper money.
W money has long been an important a part of life.
C. Salt is definitely a valuable element.
D. Cash will soon become a thing of the past.
2 . According to the studying, when was pepper utilized as a type of commodity money in Europe? A. During globe war IIB. Present day
C. Thousands of years agoD during the middle ages
3. In line with the reading, which in turn item was often used instead of money in European countries after Ww ii? A. Rare shellsB. Breads
C tobaccoD. Iron fingernails
4. In Paragraph C, determine almost certainly means_____.
A. WeighB decideC. IncreaseD. Test
five. Which with the following does the reading not really mention because something people can now do without likely to a financial institution? A. Shell out their billsB. Deposit their very own paychecks
C. Transfer fundsD buy meals and clothes
6. One of these of representative money is definitely _____.
A. LivestockB. A gold coinC a one-dollar billD. Pepper
six. Paragraph Deb is mainly regarding _____.
A the latest development in moneyB. Modern tools C. Copying funds in one account to anotherD. The future of money
eight. One example of commodity cash is _____.
A. A newspaper billB. A touchstoneC. A paycheckD a silver diamond necklace
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