Money Kód ITMS projektu: Gymnázium Pavla Jozefa Šafárika – moderná škola tretieho tisícročia Vzdelávacia oblasť: Jazyk a komunikácia Predmet Anglický jazyk Ročník, triedy: IV.OA Tematický celok: Peniaze Vypracoval: Ing. Diana Matisová Dátum:

BARTER

Consider this problem: + You catch fish for your food supply, but you're tired of eating it every day. Instead you want to eat some bread. Fortunately, a baker lives next door. Trading the baker some fish for bread is an example of barter, the direct exchange of one good for another. - However, barter is difficult when you try to obtain a good from a producer that doesn't want what you have. For example, how do you get shoes if the shoemaker doesn't like fish? The series of trades required to obtain shoes could be complicated and time consuming. BARTER

COMMODITY MONEY Commodity money is money whose value comes from a commodity of which it is made. Over the years, people have used a wide variety of items for money, such as seashells, beads, tea, fish hooks, fur, cattle and even tobacco.

An okpoho or manilla, the traditional commodity money in West Africa until the 1940s. Japanese commodity money before the 8th century AD: arrowheads, rice grains and gold powder. This is the earliest form of Japanese currency.

A print from 1845 shows cowry shells being used as money by an Arab trader. A live map cowry Cypraea mappa in East Timor

Stone money yap – pacific islanders

After commodity money came the use of precious metals such as gold, silver, copper. Money was valued according to weight and caliber of the metal. The use of these precious metals gave rise to coins as a mode of payment. PRECIOUS METAL

Most early cultures traded precious metals. In 2500 BC the Egyptians produced metal rings for use as money. By 700 BC, a group of seafaring people called the Lydians became the first in the Western world to make coins. The Greeks and Romans continued the coining tradition and passed it on to later Western civilizations. FIRST COINS

Lydian Coin (Western Turkey), B.C. THE OLDEST COIN

DIFFERENT COINS

PAPER MONEY As commerce or trade expanded and as people made more transactions, the use of precious metals became very inconvenient. Their weight made it difficult to use them during transactions, especially when long journeys were involved.

The Chinese were the first to use paper money, beginning in the T'ang Dynasty ( A.D.). PAPER MONEY

During the 13th century, Marco Polo described the fiat money of the Yuan Dynasty in his book The Travels of Marco Polo. Fiat money is tokens or pieces of paper that are not intrinsically valuable themselves PAPER MONEY

MARCO POLO

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1.What are the disadvantages of barter exchange? 2.What is commodity money? 3.Where is the firts paper money from? 4.Compare cash vs credit cards. 5.Where is the oldest coin from? 6.What money did pacific islanders use? 7.What do you spend your pocket money for? QUICK QUIZ

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