Money did not always exist in this world. Prior to the use of money, barter is the mode of business transactions. However, barter was found to be an inefficient way of exchanging goods. As a result, money acts as an intermediary market good, which may be paid for other goods. On the basis of history, money has taken myriad forms, as well as scarce metals. At present, the majority of money exchanged takes no physical shape or texture, and only exists as bytes and bits in a memory of computer.
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Posted on May 2, 2009 at 2:06am —
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