Besides being easier to carry than cows, using money had many other advantages. Money is "easier to divide" than many trade goods. If someone own cows, and wants to trade for only "half a cow's worth" of wheat, he probably does not want to cut his cow in half. But if he sells his cow for money, and buys wheat with money, he can get exactly the amount he wants.
Cows die, and wheat rots. But money "lasts longer" than most trade goods. If someone sells a cow for money, he can save that money away until he needs it. He can always leave it to his children when he dies. It can last a very long time, and he can use it at any time.
Not every cow is as good as another cow. Some cows are sick and old, and others are healthy and young. Some wheat is good and other wheat is moldy or stale. So if a person trades cows for wheat, he might have a hard time arguing over how much wheat each cow is worth. However, money is "standard". That means one dollar is worth the same as another dollar. It is easier to add up and count money, than to add up the value of different cows or amounts of wheat.
Later, after coins had been used for hundreds of years, paper money started out as a promise to pay in coin, much like an "I.O.U." note. The first true paper money was used in China in the 10th century AD. Paper money was also printed in Sweden between 1660 and 1664. Both times, it did not work well, and had to be stopped because the banks kept running out of coins to pay on the notes. Massachusetts Bay Colony printed paper money in the 1690s. This time, the use became more common.
Today, most of what people think of as money is not even things you can hold. It is numbers in bank accounts, saved in computer memories. Many people still feel more comfortable using coins and paper, and do not totally trust using electronic money on a computer memory.
Many types of money have been used at different times in history. These are:
"Commodity money" can be used for other purposes besides serving as a medium of exchange. We say it possesses intrinsic value, because it is useful or valuable by itself. Some examples of commodity money are cattle, silk, gold and silver. Convertible paper money is money that is convertible into gold and silver. Gold and Silver certificates are convertible paper money as they can be fully convertible into gold and silver.
Inconvertible money is money that cannot be converted into gold and silver. Notes and coins are inconvertible money. They are inconvertible and are declared by the government money. Such fiat money is a country's legal tender. Today, notes and coins are the currencies used in bank deposits.
Types of bank deposits:
Multiplication
Multiplication is an arithmetic operation for finding the "product" of two numbers in mathematics. It is often represented by symbols such as formula_1 and formula_2. Multiplication is the third operation in math, after addition which is the first, and subtraction which is the second. It can also be defined on non-number mathematical objects as well.
With natural numbers, multiplication gives the number of tiles in a rectangle, where one of the two numbers equals the number of tiles on one side, and the other number equals the number of tiles on the other side.
With real numbers, multiplication gives the area of a rectangle where the first number is the same as the size of one side, and the second number is the same as the size of the other side.
For example, three multiplied by five is the total of five threes added together, or the total of three fives. This can be written as 3 × 5 = 15, or spoken as "three times five equals fifteen." Mathematicians refer to the two numbers to be multiplied as "coefficients", or ""multiplicand"" and ""multiplicator"" separately (where Multiplicand × multiplicator = product).
Multiplication between numbers is said to be commutative—when the order of the numbers does not influence the value of the product. This is true for the integers (whole numbers), e.g. 4 × 6 is the same as 6 × 4, and also for the rational numbers (fractions), and for all the other real numbers (representable as a field in the continuous line), and also for complex numbers (numbers representable as a field in the plane). However, it is not true for quaternions (numbers representable as a ring in the four-dimensional space), vectors or matrices.
The definition of multiplication as repeated addition provides a way to arrive at a set-theoretic interpretation of multiplication of cardinal numbers. A more accurate representation is to think of it as scaling quantities. This animation illustrates 3 being multiplied by 2, giving 6 as a result. Notice that the blue dot in the blue segment of length 3 is placed at position 1, and the blue segment is scaled so that this dot is placed at the end of the red segment (of length 2). For multiplication by any X, the blue dot will always start at 1 and end at X. This works even if X is smaller than 1, or negative.
The opposite of multiplication is division.
Teachers usually require their pupils to memorize the table of the first 9 numbers when teaching multiplication, so that more complex multiplication tasks can be performed.
Microsoft
Microsoft Corporation (NASDAQ:MSFT) is a company that makes computer software and video games for users around the world. Bill Gates and Paul Allen founded the company in 1975. Microsoft makes Microsoft Windows, Microsoft Office (including Microsoft Word), Edge, MSN and Xbox, among others. Most Microsoft programs cannot be downloaded for free - people have to buy them in a shop or online. Some products (like the Windows operating system) are often already installed when people buy a new computer.
Although Microsoft is best known for its software products, the company also runs a number of web services. They include:
Microsoft has also made a wide variety of hardware over the years. Among them are computer accessories like mice, keyboards, and webcams.
The company also makes and promotes a video game console, Xbox. It lets people play video games on their televisions. The games were first stored on CDs, but many recent games are downloaded from the Internet. There have been three generations of Xbox. The first generation came out in 2001 and was just called Xbox, while the second, the Xbox 360, was released in 2005. The third and newest model is the Xbox One in May 2013. Beginning with the Xbox 360, Microsoft introduced Xbox Live, which lets people play games online against other people anywhere in the world. The Xbox has become very popular and more than 100 million units have been sold worldwide. Because of this, Microsoft is considered one of the three big companies that make video game consoles, along with Nintendo and Sony.
Most recently, Microsoft has also started to make its own PCs, called the Surface. The first model was announced in 2012 and the Surface line now includes tablets that use either ARM or Intel processors, two models of laptops called the Surface Book and Surface Laptop, an all-in-one PC called the Surface Studio, and an interactive whiteboard, the Surface Hub.
In 2014, Microsoft bought the mobile phone division of Nokia, a Finnish company, which then became Microsoft Mobile. The sale included the Lumia family of smartphones, which use Microsoft's own Windows Phone platform. From 2014 to 2016, Microsoft Mobile also made feature phones with the Nokia brand. Then the feature phone business was sold to HMD global, which continues to produce both feature phones and Android smartphones under license from Nokia.
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