Inancienttimeswealthwasmeasuredandexchangedinthingsthatcouldbetouched:food,tools,andprecio
In ancient times wealth was measured and exchanged in things that could be touched: food, tools, and precious metals
and stones. Then the barter system was replaced by coins, which still had real value since they were pieces of rare
metal. Coins were followed by fiat money, paper notes that have value only because everyone agrees to accept them.
Today electronic monetary systems are gradually being introduced that will transform money into even less tangible
forms, reducing it to a series of “bits and bytes”, or units of computerized information, going between machines at
the speed of light. Already, electronic fund transfer allows money to be instantly sent and received by different
banks, companies, and countries through computers and telecommunications devices.
Which of the following would be the most appropriate title for the passage?
A. International Banking Policies
B. The History of Monetary Exchange
C. The Development of Paper Currencies
D. Current Problems in the Economy