Key Ideas

Think about the following questions as you watch the video

1. 00:58 Prior to money, what system of exchange was used to obtain necessary goods?
2. 01:13 What were some of the first items to be bartered in early agricultural societies?
3. 01:23 Why did bartering societies move toward systems of money?
4. 02:12 What were some of the earliest forms of money?
5. 02:46 When and where did paper money originate?
6. 03:37 What brought about the use of credit as a system of monetary exchange?
7. 04:01 What is the Gold Standard System?
8. 04:23 The US dollar is fiat money. What does this mean?