Money Definition, Economics, History, Types, & Facts
These goods were in high demand and traders knew that they would be able to use or trade these goods again in the future. Cocoa beans, cowrie shells, and agricultural tools have also served as early forms of money. It connotes something deposited for safekeeping, like currency in a safe-deposit box. When one brings currency to a bank for deposit, the bank does not put the currency in a vault and keep it there. It may put a small fraction of the currency in the vault as reserves, but it…
Read More