The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter. Instead, non-monetary societies operated largely along the principles of gift economics. When barter did occur, it was usually between either complete strangers or potential enemies.
Many cultures around the world eventually developed the use of commodity money. The shekel was an ancient unit of weight and currency. The first usage of the term came from According to Herodotus, and most modern scholars, the Lydians were the first people to introduce the use of gold and silver coin.[11] It is thought that these first stamped coins were minted around 650–600 BC.[12] Paper money or banknotes were first used in China during the Song Dynasty. These banknotes, known as "jiaozi" evolved from promissory notes used since the 7th century. However, they did not displace commodity money, and were used alongside coins. Stockholms Banco first issued banknotes in
The word "money" is believed to originate from a In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning 'in kind'
1. Pre-Barter: Period when human can fulfill all human needs. 2. Barter: to exchange goods for other things rather than for money. - The frailties are as follows: - The change is often not appropriate. - That is not a general measurement unit in valuing a commodity or service. - There is not a way to store general goods. - There is not a satisfying unit of measurement to note a payment contract in the future. 3. Goods Money: All something, which can make tool trades. 4. Currency Money : money gets to form metal and paper. 5. Bank deposit : money gets to form commercial paper. MONEY DEFINITION: anything that is generally accepted as payment for goods and services and repayment of debts or something that can be applied for payment or goods buyer, service, ad paying off the debt. THE REQAUIREMENT OF GOODS TO BEECOME: KIND OF MONEY: PAPER CURRENCY Is the short of money that is officially issued by the government or central bank, which functions as a means of valid payment, accepted by public and circulates in the community. Currency consists of bank note and coin. Paper currency consists of: Bank note is the kind of money that is issued by the Indonesian Bank as a means of exchange and payment. Coins Are the kinds of money made of metal (gold, silver, bronze, copper and aluminum). Generally, the government to meet the people needs of small change issues them. The excesses of coins are: BANK DEPOSITS Is the balance in the bank that is able to apply as a means of payment anytime. Kinds of bank deposits Check is an order from someone or client who has saving in the bank to cash an amount of money to the party mentioned on the order. Posted check is one that can be cashed on the date due. Bad check is one made by someone who does not have account in a bank or who does but the fund is not available. Check by the name is check that just can be cashed by person that its name exists in check. Check at a sight is cash able cheque by whom just that takes in to cross a cheque. Clearing account ticket or bilyet demand deposit. Is an order from someone who owns a clearing account in a bank, in order that the bank pays by transferring part or whole account appoint. Payment order is an order given directly by someone who has a clearing account in a bank in order that the bank pays an amount of money by way if his account to the appointed one. Telegraphic transfer Is an order from someone who has an account in a bank on order that the bank pays an amount of money to the account of the party or person appointed by sending a telegram. The excesses of bank deposits are: The security of the owner has been guaranteed, because the cash is kept in the bank. Always receiving interest from the rest of the saving in the bank. Checkbook or clearing account is easier to carry than a large amount of cash. The weaknesses of bank deposit are: Is not valid means of payment. High risk from forger of money. Payment using a check in small amount is frequently rejected. THE FUNCTION OF MONEY The main function or genuine function 1. A medium of exchange or valid exchange. Money can be change into everything in the community. 2. A unit of account. Is a value of goods and service stated with money. Derivation function THE VALUE OF MONEY Intrinsic value Is the value of the material applied to make the money. The one who knows exactly the value of the material is the money printer or the government. Nominal value Is the value put out on the currency . Internal/real value Does the number of goods or service that can be exchanged using the money measure the value of money. External value Is the money value measured with a foreign currency.etimology
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