Money, as a concept, has been an essential part of human civilization for thousands of years. Initially, societies relied on barter systems, where goods and services were exchanged directly. However, barter had limitations-specifically, the need for a double coincidence of wants, meaning both parties needed to want what the other had to offer. This inefficiency led to the development of money as a medium of exchange.
Money, as a concept, has been an essential part of human civilization for thousands of years. Initially, societies relied on barter systems, where goods and services were exchanged directly. However, barter had limitations-specifically, the need for a double coincidence of wants, meaning both parties needed to want what the other had to offer. This inefficiency led to the development of money as a medium of exchange.
