Money is something we all take for granted in our lives. Some of us may wish we had more of it but we all recognise it when we see it, whenther in the form of coins, notes or cheques. It is difficult to imagine how people ……40…… without money. In the earliest periods of human history, people used to exchange goods directly. They would exchange things they had ……41…… of for things that they were in need of. For example, they might offer food for tools. This ……42…… of exchange, which is known as “barter”, has many disadvantages. Certain goods may be difficult to carry, they may not last long, or may be ……43…… to divide into smaller units. It can also be very difficult to know the ……44…… of something compared to other goods.
……45…… historians, the first money, in the sense we ……46…… it today, ……47…… of gold coins produced about 2,500 years ago. Gold, being a very precious metal, was a ……48…… material. The introduction of gold coins was ……49…… to everyone and they were still being used at the beginning of this century, although they have now been ……50……
By paper money and coins made of ordinary metals.