Page 120 - Key to Social Studies 4
P. 120
Trading throughout History
Civilizations ourished, or grew stronger as Paper Money
they made agreements with other Paper money was issued in China in the
civilizations to trade goods and services. eleventh century. The idea was not accepted
Exchanges of services and goods were in the west until almost four hundred years
done using money or barter. later. The paper dollar showed up in the
Barter United States after the Revolutionary War
A barter system is an exchange of products; and began to be accepted as the national
a person must have a product that is standard of signi cant worth and nance
needed by another person. One person that we have today.
might give some food to another who Bank Checks
agrees to x their car. One person might People now have other di erent types of
barter a computer for a television. One money for payment or exchange, including
group might barter or trade iron or gold for banking checks. A check is a direct written
wood or spices. order to a bank to pay for goods and
Coin Money services.
Coin money or metal money was
developed around 600 B.C.E. by the Greeks
and Romans, as they were dominant, or had
the power of control, in trade. The rest of
the world started to accept coin money,
which remains accepted as a medium of
exchange to this day. Paper money
118 Coin money Bank check
