2007-02-27 16:16:22 · 4 answers · asked by prasanth_er 1 in Social Science ➔ Economics
Commodity money is the term for the particular good that is used as money - that is, as a medium of exchange, store of value, and unit of accounting. So the Romans paid their soldiers in salt (the word 'salary' comes from this) because everyone could agree on salt's value relative to other items, and agree to trade salt for other items. Gold was another very popular commodity money, which eventually moved to standardized coins, to paper notes promising a particular amount of gold/silver, to the fiat money system commonly in use today.
2007-02-27 17:31:52 · answer #1 · answered by Doc Occam 7 · 0⤊ 1⤋
Primitive Currency....
2007-02-28 00:46:52 · answer #2 · answered by Aki 3 · 0⤊ 0⤋
They had gold coins or chains. They would cut off pieces of the chain or coin if it was less value than the coin or chain. They called these (Bits) Our dollar was broken down by quarters @bits was l quarter 1 bit , 2quarters .50, 3 quarters ,6 bits .75.
2007-02-28 01:08:15 · answer #3 · answered by Leroy 4 · 0⤊ 1⤋
Club
With a good club you can buy anything you want. That was the law until the spear was invented -- then started modern civilization.
2007-02-28 02:04:27 · answer #4 · answered by Anonymous · 0⤊ 1⤋