102.4 Lesson - whyStonesShellGold

Screen: whyStonesShellGold

Headline: Why were stones, shells and gold commonly used as money in the past?

Reward: 3

Text: Well, these items all had some -- but not all -- of the characteristics of good money.

So what characteristics make for “good” money? Scarce: not abundant, nor easy to reproduce or copy Accepted: relatively easy for people to verify its authenticity Durable: easy to maintain, and does not perish or fall apart Uniform: readily interchangeable with another item of the same form Portable: easy to transport Divisible: can be split and shared in smaller pieces

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QUIZ

Question: Why were stones, seashells and gold used as units of money?

Answer: Because they have key characteristics -- such as being durable, uniform and divisible.

Feedback: Correct. More key characteristics include being scarce and portable.

Correct: true

Answer: Because they are pretty and shiny.

Feedback: Incorrect. That may be true, but alone are not great characteristics of money.

Correct: false

Answer: Because they fit inside of your pocket

Feedback: Not quite. Although these items were surely portable, that alone was not the reason to be used as money.

Correct: false