The use of paper money, convertible into gold, to replace gold coins, originated in China in the 9th century CE.Gold standards replaced the use of gold coins as currency in the 17th-19th centuries in Europe...


Initially, the value of goods was expressed in terms of other goods, i.e. an economy based on barter between individual market participants. The obvious limitations of such a system encouraged establishing more generally accepted means of ..


Crude oil prices are a matter of demand and supply as well as politics. Crude oil is the most heavily traded commodity in the world, with the futures listed in the New York Mercantile Exchange serves as the benchmark in international pricing.....