Money is like a special kind of promise. If everyone agrees that it's valuable, then it works. But if you're in a place where people use shells or stones instead of coins, they might think your money isn't very important, and that’s okay! It all depends on what the people around you believe.
Examples
- In one place, a coin is worth a whole loaf of bread, but in another place, it’s barely enough for a single cookie.
- A group of kids might trade stickers for snacks, that's like their own kind of money.
- Some people use shells as money because they are small and easy to carry.
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See also
- Why Do We Have Different Kinds of Taxes?
- Why Do Prices Change So Much?
- Why Do We Use Money Instead of Bartering?
- Why Do Prices Go Up So Much When There's a Shortage?
- Why Do We Have Different Kinds of Coins?
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Categories: Economics · money,culture,economics