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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.
Georg Friedrich Knapp, a German economist, invented the term "chartalism" in his State Theory of Money, which was published in German in 1905 and translated into English in 1924. The name derives from the Latin charta, in the sense of a token or ticket. [2] Knapp argued that "money is a creature of law" rather than a commodity. [3]
Ephesus' great temple of Artemis has provided evidence for the earliest coins yet known from the ancient world. [nb 1] The first structures in the sanctuary, buried deep under the later temples, date back to the eighth century BCE, and from that time on precious objects were used in the cult or dedicated to the goddess by her worshippers.
The gradual deterioration in design and execution of the gold coins and the disappearance of silver money, bear ample evidence to their curtailed territory. [60] The percentage of gold in Indian coins under the reign of Gupta rulers showed a steady financial decline over the centuries as it decreases from 90% pure gold under Chandragupta I (319 ...
In 2021, NCERT textbooks revision process was initiated by the Government of India by setting up a committee headed by former ISRO chief K Kasturirangan to prepare a document laying down various guidelines for changes in the curriculum of the council. [8] NCERT campus entrance display with logo
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Learning how to live below your means today can help you save more money for tomorrow. The first step is getting a handle on where your money is going. To effectively manage your finances ...
People looking to save money for a big trip or financial investment may want to make plans around an "extra" paycheck in their pocket.. Employees who get paid on a biweekly basis (every other week ...