Paper money

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/paper-money

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the historical precursor?Merchant-issued 'flying cash' in 7th-century Tang Dynasty China
2. What is the first government-issued paper money?The 'Jiaozi' of the Song Dynasty, officially adopted around the 11th century
3. What is paper money and why do we use it instead of coins?Paper money is a type of currency made from paper or polymer that we use to buy things. It is lighter and easier to carry than heavy coins, so it makes shopping and traveling faster.
4. Where did paper money first appear and how did it help trade?Paper money first appeared in China around the 7th century. Merchants used special notes called "flying cash" to send money over long distances without carrying heavy coins, which helped trade grow.

Fiat Currency: Money whose value is not derived from any intrinsic worth but is declared by government decree.
Monetary Policy: Actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity.
Central Bank Digital Currency (CBDC): A digital form of a country's fiat currency, issued and backed by the central bank.