Asked by Dawson Lewis on May 04, 2024
Verified
Back in the Middle Ages,the only safe place to put your money was
A) in Treasury bills.
B) in goldsmiths' safes.
C) in real estate.
D) in commodity futures.
Goldsmiths' Safes
traditionally were used by goldsmiths in medieval times to store gold and valuable items, marking an early form of banking.
- Comprehend the evolution and historical background of banking.
Verified Answer
RT
radhika tangriMay 05, 2024
Final Answer :
B
Explanation :
During the Middle Ages, there were no government-backed Treasury bills or stable financial institutions like banks. Therefore, the only option for keeping one's money safe was to entrust it to goldsmiths' safes. These safes were highly secure and well-guarded, which made them an ideal choice for storing valuables and currency. Real estate was not a practical investment option for most people during this time, and commodity futures trading did not exist in the way it does today.
Learning Objectives
- Comprehend the evolution and historical background of banking.
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