We all know that money doesn’t grow on trees. But it’s actually made of paper, which is made of trees ;) Indeed, there are quite a number of interesting facts about money which are likely to surprise you!




Think about it

Answer the question below.

  • Which currency is the cleanest in the world? How was it tested?
  • What items did people use as money in the past?
  • Where does modern money originate from?
  • What is the supposed origin of the word “quid”?
  • Who was Francis Greenway?
  • Which countries in the world had the biggest inflation issues?
  • What is so special about cheese in Italy?
  • Is money actually ever destroyed on purpose? Why?
  • Why was the Euro 500 banknote taken out of circulation?


Practice makes perfect

Fill in the blank spaces with the correct forms of the words in CAPITAL LETTERS.

Money is any item or ________ VERIFY record that is generally accepted as ________ PAY for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of ________ CHANGE; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that ________ FILL these functions can be considered as money.


Fill in the blank spaces with the missing words. Use ONE word per blank space.

Money ________ historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based ________ fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives ________ value by being declared by a government to be legal tender; that is, it must be accepted ________ a form of payment within the boundaries of the country, for “all debts, public and private”. Such laws ________ practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues ________.

The money supply of a country consists ________ currency (banknotes and coins) and, depending ________ the particular definition used, one or more types ________ bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms ________ far the largest part of broad money in developed countries.

From Wikipedia | Click here for answers


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