Topic # 9 The Modern World Is Unthinkable Without Money. What Makes Money Valuable? Bring Your Arguments.

Topic # 9 The Modern World Is Unthinkable Without Money. What Makes Money Valuable? Bring Your Arguments. 

 

Well, money is commonly used to measure the values of people's work and all the things in the world. Besides, it is used as the standard of future payments. Life can't go smoothly without money. But there were times when there was no money at all. Instead, man had the "barter"system. If a man wanted something he didn't have, he had to find someone who had it. Then he had to offer him something in exchange. But in time, certain things came to be used as money because everyone would take these things in exchange. People used shells, beads, cocoa beans, salt, grain, tobacco, skins, and cattle as money. Then coins were made to replace things. Coins are easy to store and to carry about. The earliest coins were used in China and Greece. They were first made of gold or silver. Later, people used coins made of cheaper metals. People also started to use paper money. The money itself has no real value but it is backed by the government and the banks.

And today, of course, we have bills and coins issued by the government, and everybody uses this money. There are four  main things that money does for people. First, it makes possible exchange and trade. Money makes it possible to exchange your work for something you want. Second, money is a "yardstick of value". Money is used to measure and compare the values of various things. Third, money is a "storehouse of value". This means you can sell something you have and get money to use it in future. Fourth, money is a "standard for future payments". You use money as a form in which you can  make later payments for the thing you have bought.