Importance And Importance Of Money

People nowadays are no longer aware of the history of money since at their thought, the value of money is more important than some historical story of its first existence. According to most philosophers, money is a physical medium of exchange that involving a development of carrying out transactions or a unit of measurement and a storehouse for wealth. In other words, money is a clearly identifiable object of value that commonly acknowledge as payment for goods and services given. It also can be used as repayment of debts among business or people as long it’s legally within a country. Back then when the term of money is not been introduced, people has used livestock or anything that directly useful for themselves as a medium of exchange. Money

The answer is, since long ago people are trading and exchange things that will benefit them by a system that called barter. Bartering is interchange services or goods with another person when there is no money involved. This type of exchange was relied upon by early civilizations. There are even cultures within modern society who still rely on this type of exchange. Earlier period of bartering system exist, people are used to how it operate since it make all the trading more systematic and more satisfy with the result. Since the money system is limit to its value like gold or coins ,with the barter system people capable to trade more and find better solution for others advantages. Bartering has been around for a very long time, however, it's not necessarily something that an economy or society has relied solely on. The barter system that we use today is incredibly popular, however, few realize just how far back the barter system goes. A barter system is an old method of exchange and this system has been used for centuries and long before money was invented. In the present day, bartering has made a comeback using techniques that are more sophisticated to aid in trading for instance, the

The value of bartering items can be negotiated with the other party and since it is never involving term of money in it, satisfaction and agreement can be made. Bartering do not involve money which is one of the advantages and typically not been the only method of exchange of goods and services that a society used, since it can’t operate by itself. The barter system was used as a complement to another economic system and bartering was traditionally done not among family or friends but by strangers or enemies. The history of bartering dates all the way back to 6000 BC and introduced by Mesopotamia tribes, it was implemented by Phoenicians. Phoenicians bartered goods to other cities across oceans but at that time not only they used the bartering system, as the trading system also just started to grow. Whenever an agreement cannot be made with bartering system, the Phoenicians try the trading solution. Babylonian’s also developed an improved bartering system as they were exchanged for food, tea, weapons, and spices among traders or even their enemies. Salt was another popular item that keep been exchanged and to show how valuable it is back then, the Roman soldiers' salaries were paid with