If you are a fan of money, you will love the Falling Money PNG bundle. This 5 digital file set is the perfect digital design asset for anyone working with money. You will receive an instant digital download after purchasing this bundle, and it contains many different money-related elements. You’ll be able to use each of the 5 digital files in your design projects without any hassle. Read on to learn more about this digital design asset!
Papua New Guinea is a return to the old ways
The monetary system in Papua New Guinea (PNG) underwent some major changes during the colonial era. Before paper money was introduced, the Hagen, Duna, and Wiru peoples traded and stored their goods using shell tokens. They used these valuables to define personhood and self-worth. After the colonial era, the monetary system underwent further changes and incorporated the introduction of paper money.
The new government of Papua New Guinea has stated that it hopes to make PNG the richest black Christian nation in the world. However, there has been considerable uncertainty regarding foreign investments due to the implementation of new resource laws and a shortage of foreign currency. In addition, the low returns on foreign investments made it obvious that domestic spending must increase. The government’s “taking back” attitude has also been criticized.
Traditional monies were used for exchange of goods
Some of the earliest forms of money used for bartering included cattle, camels, and sheep. Grain was also a standard currency for many cultures. Cowries, shells of molluscs found in the shallow waters of the Indian and Pacific Oceans, were also used as money. Cowries were used as currency by countless societies, and as recently as this century, they were still in use in Africa.
Cash is a store of wealth
As far as wealth and money are concerned, cash is a store of value. This means that money has a value, and therefore is useful for establishing trade relationships. In the absence of money, other assets, such as land or farmland, can serve as stores of value. These assets do not depreciate, unlike cash, which will eventually lose its value when inflation takes effect. Cash is the simplest store of value, and its popularity is increasing.
Although there are many other commodities that can be used as a store of wealth, money is the most liquid of them all. Not only is cash easy to exchange, but it is also easily transferable from one place to another. As a result, it is an excellent medium for holding wealth and serving as a standard for future payments. For example, if you borrow money, you generally sign a contract pledging that you will pay the money back with it.
Kina and Toea is a traditional store of wealth
The Kina and Toea are a traditional store of wealth for the Motuan Coastal peoples. Both are shells obtained from the ocean. Toea is rare and can only be found at certain times of the year. In the past, it was a store of wealth and used to be the primary means of trade. Today, the kina is an accepted form of currency in Papua New Guinea.
Tolai society still relies on shell money and has a long way to go before it can fully adapt to a money-driven economy. Tolai people still use the Kina and Toea to make purchases. In fact, they juggle both forms of money with the tabu, which is another traditional store of wealth. But it is important to remember that the Toea is also a traditional store of wealth and currency.