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Tuesday, March 24, 2020

BST - Money

Tody's lesson in Business Enterprise, we looked at the value of money and the types of money that were used before notes were invented. 
What is the currency? 
Currency is money a system of money in any form, it is used by the people in one's nation to exchange for goods or services.


Where was it used and who used it? 
The first Western culture who made money was the Lydians. Cultures around the world developed the use of their own commodity money. 


What do you think are some advantages of this money?

  • Money gives you power
  • Money is one of the reason how you can pursue your dreams
  • Money is the reason why we have food to eat
  • Money gives you security


What do you think are some disadvantages?
  • There are people who are willing to take one's life just so they can get money
  • Money can lead to disagreements
  • Money is sometimes the reasons why one's relationship is broken
  • There are people who will get obsessed with money
  • When people have heaps of money, they step on other people


Any interesting facts?
  • Mints are the factories where the money is being made
  • The first people who stamped the image of a living person on money was the Romans
  • Coins were first minted around 2,500 years ago
  • Credit cards were first used in the USA in 1920
  • Over 170 different currencies are used around the world today
This is the site where I got the facts (check it out) https://www.seriousfacts.com/money-facts/








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5 comments:

  1. Mrs Kelsey CliffordMarch 24, 2020 at 4:37 PM

    Hey Skyler,
    An interesting read here, thanks for sharing your facts. It was interesting to learn that the first credit cards came from the USA in the 1920s. Who came up with the idea and do you think it was a good one? How did people borrow money before this?

    ReplyDelete
    Replies
    1. AnonymousApril 23, 2020 at 11:46 AM

      Hi Ms Morgan

      The person who invented the credit card was John Biggins. Early in the 1900's, he launched the "Charg-It" credit card.

      Delete
    2. Mrs Kelsey CliffordApril 23, 2020 at 11:56 AM

      Thank you for coming back to me with an answer! 1946 was the year it was launched? Am I correct? How did it work? I am assuming they didn't have eftpos machines back at that time?

      Delete
    3. AnonymousApril 23, 2020 at 1:30 PM

      Hi Ms Morgan

      Yes, John Biggins developed the Charg-It card in 1946 which marked the first banking attempt to issue a card which customers could use at more than one merchant store.

      Delete
  2. AnonymousApril 23, 2020 at 11:49 AM

    Hi Ms Eastwick

    In my research, what I found the most interesting was that the first Western culture who made money was the Lydians.

    ReplyDelete

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