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History of money - Essay Example

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This essay describes the history and the reconstruction in the development of money in both the prehistoric world and the present day world but first begins with the nature of money.Money is a valuable form of trade used as a measure of the value of commodities and services…
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History of money
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History of money

Download file to see previous pages... The function of money is identifying the value of a standard measurement of goods and services. Money is used as a denominator where one can express the measure of the value of a commodity. Money is also identified as existing through human convections. For this reason, human beings have the power to change the value of money or change it. It is in the nature of money that it is identified as being subject to fluctuations due to value with all other commodities that it may be compared to. Money is, however, more stable when compared to goods. This is because good’s value is related specifically to the individuals that demand the goods. Use of money is a measure of value for establishing the proportional value that could make it possible to equalize all commodities with this standard where it is accepted and makes the community and enables exchange.The nature of money is that all commodities, things, and objects are measurable by money. Exchange of goods and services for money occur when the parties reach a common ground for agreement on exchange basing the agreement on the idea of proportionality. The nature of money allows humans to reach an agreement that serves the needs of their intercourse and interaction although it might not be possible to for different goods to be equal.The nature and condition of transactions are dependent on the good and service that the buying party wants. Since nature requires equality, where unequal individuals receive shares unequally, the significance of money in the act of exchange is demonstrated ...Download file to see next pagesRead More
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