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The history of money is the development over time of systems for the exchange, storage, and measurement of wealth. Money is a means of fulfilling these functions indirectly and in general rather than directly, as with barter. Money may take a physical form as in coins and notes, or may exist as a written or electronic account.
The Golden Rhinoceros of Mapungubwe was discovered on a royal grave at the site of Mapungubwe Hill, and was on display at the British Museum as part of an exhibition celebrating the art of South Africa. [7] Mapungubwe also saw the first development of stonemasonry in what is now South Africa. [5] Glass beads and Chinese ceramics were imported. [8]
By 1745, standardized printed notes ranging from £20 to £1,000 were being issued. Fully printed notes that did not require the name of the payee and the cashier's signature first appeared in 1855. [165] In the 18th century, services offered by banks increased. Clearing facilities, security investments, cheques and overdraft protections were ...
Coins of the 7th century Umayyad Caliphate included the silver dirham and gold dinar. A tomb of the Chinese Shang dynasty dating back to the 11th century BCE shows what may be the first cast copper money Tong Bei. Coinage was in widespread use by the Warring States period and the Han dynasty. Also a lot of coins in China had a hole through the ...
By 1200 BCE, cowrie shells were used as a form of money in China. The use of coins as a means of representing money began in the years between 700 and 500 BCE. [43] Herodotus mentions the use of crude coins in Lydia around 687 BCE and, by 640 BCE, the Lydians had started to use coin money more widely and opened permanent retail shops. [44]
There is a diversity of definitions used by bodies such as NGOs and think tanks, but in its broadest sense, financial literacy is an understanding of money. [8] Some of the definitions below are closely aligned with "skills and knowledge", whereas others take broader views, and some are from academic research which is tested and validated:
"Hot-seating" is the practice of offering class in the morning to half of the students and in the afternoon to the other half. [25] " Hot-seating" was still not enough to meet the demands of the population; therefore, the Ministry of Education expanded teacher education colleges rapidly by providing "on-the-spot" teacher training .
From 1850 to 1947, India's GDP in 1990 international dollar terms grew from $125.7 billion to $213.7 billion, a 70% increase, or an average annual growth rate of 0.55%. This was a higher rate of growth than during the Mughal era (1600–1700), when it had grown by 22%, an annual growth rate of 0.20%, or the longer period of mostly Maratha ...
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