the history of money commodities · the history of my first paycheck i can clearly, confidently and...
TRANSCRIPT
COMMODITIESThe History of Money
Commodities
Provide Yourself
Barter
Commodity
Certain barter items were seen as having universal value.
Seashells
Iron Nails
Livestock
What are some commodities today?
Commodities
Provide Yourself
Barter
Commodity
Often people would trade for an item even if it was un-needed. They were confident that it could be traded for something they DID need.
Therefore, a commodity acts like money. Eventually precious metals became a popular commodity.
What are the four characteristics of money?
Commodities
Provide Yourself
Barter
Commodity
Commodities are more plentiful in some places, making them less rare.
Durability, divisibility and portabilityare sometimes an issue.
What do we have in WNY that isn’t usually thought of as a commodity here, but might be elsewhere ?
THE HISTORY OF MY FIRST PAYCHECK
I can clearly, confidently and accurately predict exchange systems of the future based on my historical knowledge of the importance of money and analysis of each method of exchange, beginning with self-reliance up through fiat, as well as explain methods used to determine value and trust.
Widely used commodity
with worth to most people
and holds value over time.
Precious Metals, such as
gold and silver, are most
common.
Commodity Money
Coins became popular duringthe 18th Century (1700’s) as trading grew in Europe.
Value is based on the amount of gold (or silver) within the coin
– Stamps help to identify different values
Commodity Money
What problems do you
predict with commodity
money?
Commodity Money
What problems do you
predict with commodity
money?• Difficult to carry. Metals in larger
amounts become very heavy.
• Difficult to keep safe from theft.
Commodity Money
Tell us a story• Imagine a world that has some people
providing for themselves, some that barter and more that exchange multiple commodities, including coins.
• Collaborate with your PARTNER to write a short story about three teenage friends within that world.
• You will share your story with your group.