Arrange the following in ascending order in respect of evolution of money.
(A) Coin exchanges.
(B) Barter exchanges.
(C) E-money.
(D) Paper currency.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (B), (A), (D), (C)
The evolution of money took place in the following sequence:
-
(B) Barter exchanges – The earliest system where goods were exchanged for goods.
-
(A) Coin exchanges – Introduction of metallic money like gold, silver, and copper coins.
-
(D) Paper currency – Governments and central banks began issuing paper notes as a medium of exchange.
-
(C) E-money – The modern digital form of money (credit/debit cards, online transfers, digital wallets, etc.).