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what is the Breton wood system
Part2)
what happened with money between countries. They made rules about how much their money was worth compared to each other and how they would trade with each other. It was a way to keep things stable and fair in the world of money.
what is the Breton wood system ?
Part 1)
The Bretton Woods system was like a big agreement between different countries about money. It happened after World War II. Imagine if you and your friends wanted to play a game and needed some rules to make it fair. That’s kind of w…
WHAT IS THE GOLDEN STANDARD ?
Part 2)
but it also had limitations and eventually was abandoned. Overall, it's like having a special rule that says each piece of paper money must represent a certain amount of gold.
WHAT IS THE GOLDEN STANDARD
Part 1)
The gold standard was a system where countries used gold to back up the value of their currency. It meant that paper money could be exchanged for a specific amount of gold. This system helped stabilize economies and control inflation….