Question

newsela article- response questions
when – and why – did people first start using

1. why is currency used?

because money has many functions: measure of value

1. when did humans start using currency?

Explanation:

The problem is about understanding the use and origin of currency, which falls under the Business discipline, specifically the subfield of Economics (as currency and its functions/history relate to economic systems and concepts like the measure of value, medium of exchange, etc.). For the first question, currency is used as a medium of exchange, store of value, and measure of value to facilitate trade, simplify transactions, and provide a common unit to assess worth. For the second, humans started using currency (in forms like commodity money, then later standardized coins/currency) around 600 - 650 BCE with the Lydian electrum coins, though earlier forms of commodity money (like shells, grains) were used in pre - historic/early civilizations for trade.

Answer:

1. Currency is used as a medium of exchange (to facilitate buying, selling, and trading), a store of value (to save wealth over time), and a measure of value (to compare the worth of different goods/services), simplifying economic transactions and enabling more complex trade systems.
2. Humans started using currency in standardized forms (like coins) around 600 - 650 BCE (with Lydian electrum coins), though earlier forms of commodity money (e.g., shells, grains, cattle) were used in pre - state or early agrarian societies for trade, likely dating back thousands of years before standardized currency, as trade and the need for a common exchange unit emerged with the development of agriculture and settled communities.