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The History of Money
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What does the proverb "A penny saved is a penny earned." mean?
by saving money, you are increasing your wealth; be mindful of your spending habits
Nowadays, what do people use in exchanging money or making transactions aside from coins and paper money?
credit or debit card
Where did the earliest European paper money appear in the 17th century?
Sweden
Give two reasons why the use of paper money was developed in China.
coins are heavy and there was metal shortage
Where did metal coins first emerge?
China, 1000 B.C.
What is a marketplace?
a place where goods are bought and sold
What does the idiom "to be worth one's salt" mean?
good or competent at the job or profession specified
What is currency?
any form of money that is used in a country
What is an entrepreneur?
a person who starts and runs a business
Why are cowrie shells easier way to buy and sell things?
because they are lightweight, durable and easier to take
What is the first system of currency in China?
cowrie shells
What is bartering?
exchanging of goods for other things rather than money
What does the proverb "Money doesn't grow on trees." mean?
The phrase "money doesn't grow on trees" means that money is a limited resource that must be earned through hard work, and it should not be spent carelessly.
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