Sample
Summaries after sample
, Bartering Promissory notes
Traditional societies • People exchanged goods without money in • A promissory note is a written
traditional societies. promise to pay later, similar to a
• Traditional societies use basic methods like • The Trans-Saharan trade exchanged goods like private bank loan.
hunting and farming. gold, salt, ivory, and silk. • They began in China (8th
• They are mostly subsistence-based, with little • Bartering was limited because goods were hard century) and are still used today.
trade or growth, and people are self-sufficient. to value or store, leading to the use of money.
Coins
•
•
Sample
Coins solved barter problems by becoming a
medium of exchange.
Made of metal and stamped with value, they
have been used since ancient Greece and
Topic 1:
The history of
money
•
The role of money
Money shows how societies grew more complex over
time.
• In the past, wealth was measured in land, but today it is
measured in money.
India (6 BCE).
Summaries after sample
•
Paper money
Paper money was lighter and easier than coins.
• Money works as a medium of exchange, a unit of account,
and a store of value.
o Modern societies
▪ Modern societies are industrialised, use technology,
and people pay with coins, cards, or electronic
• Banknotes represent value but have no worth on banking.
their own. ▪ People depend on each other’s specialised skills for
• First used in China (7th century) and later in goods and services.
Europe (14th century). o Consumer economies
▪ A consumer economy encourages people to spend
more money.
Electronic banking ▪ This puts pressure on natural resources and creates
pollution.
• Electronic banking uses the Internet, ATMs, cards,
▪ High consumption makes modern life unsustainable.
and EFTs for transactions.
• It is generally safe, but it can be affected by fraud.
GR7 T1 EMS Mind Map Study&Master Copyright © www.summariessa.co.za (DO NOT COPY)
, Sample
Summaries after sample
Summaries after sample
, Bartering Promissory notes
Traditional societies • People exchanged goods without money in • A promissory note is a written
traditional societies. promise to pay later, similar to a
• Traditional societies use basic methods like • The Trans-Saharan trade exchanged goods like private bank loan.
hunting and farming. gold, salt, ivory, and silk. • They began in China (8th
• They are mostly subsistence-based, with little • Bartering was limited because goods were hard century) and are still used today.
trade or growth, and people are self-sufficient. to value or store, leading to the use of money.
Coins
•
•
Sample
Coins solved barter problems by becoming a
medium of exchange.
Made of metal and stamped with value, they
have been used since ancient Greece and
Topic 1:
The history of
money
•
The role of money
Money shows how societies grew more complex over
time.
• In the past, wealth was measured in land, but today it is
measured in money.
India (6 BCE).
Summaries after sample
•
Paper money
Paper money was lighter and easier than coins.
• Money works as a medium of exchange, a unit of account,
and a store of value.
o Modern societies
▪ Modern societies are industrialised, use technology,
and people pay with coins, cards, or electronic
• Banknotes represent value but have no worth on banking.
their own. ▪ People depend on each other’s specialised skills for
• First used in China (7th century) and later in goods and services.
Europe (14th century). o Consumer economies
▪ A consumer economy encourages people to spend
more money.
Electronic banking ▪ This puts pressure on natural resources and creates
pollution.
• Electronic banking uses the Internet, ATMs, cards,
▪ High consumption makes modern life unsustainable.
and EFTs for transactions.
• It is generally safe, but it can be affected by fraud.
GR7 T1 EMS Mind Map Study&Master Copyright © www.summariessa.co.za (DO NOT COPY)
, Sample
Summaries after sample
