Money – Types of Money
Economics SSS 1 Third Term
WEEK 6
Money – Types of Money
Performance Objectives
Student should be able to:
- Identify the various types of money.
- Explain the characteristics of money.
Content
Forms or Types of money
1. Commodity Money: Commodity money started as barter. The exchange of cattle and sheep advanced to one of gold and silver because metals are not perishable, their purity and weight can be measured easily and they can be traded for any good or service. A medium of exchange the units of which are fixed amounts of an actual commodity that has value other than as money alone. Many items have been used as commodity money such as naturally scarce precious metals, conch shells, barley, beads etc., as well as many other things that are thought of as having value. Commodity money value comes from the.... View More
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