#948 How do vending machines check money?
How do vending machines check money? They check notes with cameras or photocells. They check coins with electromagnets and light sensors. They are much more able to spot fake notes…
How do vending machines check money? They check notes with cameras or photocells. They check coins with electromagnets and light sensors. They are much more able to spot fake notes…
What is a subprime mortgage? It is a mortgage given to someone with a low credit rating who is thought to be a risk of non-repayment. They have more risk…
What is price elasticity of demand? It is a measure of how much demand for a product changes depending on its price. An object’s elasticity is how much it can…
Why does the house always win in a casino? The house always wins because of the odds they give, the way casinos are set up, and because of psychology. Why…
Why does the USA use the dollar? Because, in the early days of the American colonies, the Spanish dollar was more prevalent than the British pound. There are twenty countries…
How did the Rothchild family start? They were able to start a banking house and install it in several different countries. The Rothschilds are a family that are involved in…
Why are Quakers the reason we have fixed prices? Because Quakers believe in fairness. The Quaker religion began in Lancashire, England in the 1650s. George Fox, the son of a…
#426 When were credit cards invented? When were credit cards invented? The first use of the phrase “credit card” was in 1887. A credit card is a system whereby a…
What is a central bank? It is an institution that manages the currency of a country and controls the supply of money. Nearly every country has a central bank. It…
I learned this today. The first paper money was issued in China in the 7th century. Many countries around the world had started using different things as “money” by about…