Part 1
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Read the passage below and listen to the audio. When you have finished listening, answer this question. Your essay should ideally be 150-225 words long, and should take you no more than 20 minutes to plan and write. 

Describe the evolution of money by using the information in the reading passage and the information you heard in the lecture. 

Part 1.

The use of metal coins as a means of exchange and purchase goes back more than 2,500 years to ancient Greece, and was one of the key factors in helping Athens develop an empire in the years before Roman dominance of the Mediterranean. It was around this time that standardized coinage was introduced, each coin being worth a fixed amount, and valued the same as a coin of an identical nature, based on its size, weight, and the official marks or stamps which indicated its value. Metal had always been preferred as a means of coinage, since it was portable, long-lasting, and easily divisible, and also had the advantage of carrying its value within the coins themselves. Gold and silver were the favored metals because they were rare, easy to identify, and visually attractive, but they had a disadvantage in that they could be manipulated. A common practice was the removal of a small piece of the coin, known as "clipping," to get the precious metal, which could then be recycled: experts could do this without there being any noticeable change in the size or shape of the coin. This, among other things, eventually led to the development of representative money, where coins were changed from a unit of weight of precious metal to a unit of value, where cheap metals were used, and where, since the coins had little intrinsic value, clipping would not benefit the holder. The next step in the evolution of money was the use of paper money in the form of the bank note, or bill. This came about when banks started issuing a paper receipt to their customers, who had deposited coins and precious metals with them for safekeeping. These receipts stated that they could be exchanged for a given weight of precious metal (the British pound, for example, could be exchanged for a pound of silver). So many of these receipts were eventually in the hands of the public that people began trading them as actual money.

Listen to the lecture now.

This is part of a lecture on the same topic as the passage that you have just read.

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Reading

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Nam et gravida felis, non ornare odio. Ut ligula ex, bibendum ac tortor sed, iaculis fringilla ex. Nam congue posuere porta. Quisque cursus risus eros, eu euismod quam posuere ut. Donec non nisl vel eros placerat pretium et sed dolor. In ac dolor ut turpis ultricies rutrum id vitae ante.

Listening

Sed tristique at nisi eget fringilla. Vivamus ullamcorper vestibulum felis, eget rhoncus orci mollis vitae. Vestibulum ut volutpat odio, vitae porttitor nisi.

Nam et gravida felis, non ornare odio. Ut ligula ex, bibendum ac tortor sed, iaculis fringilla ex. Nam congue posuere porta. Quisque cursus risus eros, eu euismod quam posuere ut. Donec non nisl vel eros placerat pretium et sed dolor. In ac dolor ut turpis ultricies rutrum id vitae ante.

Writing

Sed tristique at nisi eget fringilla. Vivamus ullamcorper vestibulum felis, eget rhoncus orci mollis vitae. Vestibulum ut volutpat odio, vitae porttitor nisi.

Nam et gravida felis, non ornare odio. Ut ligula ex, bibendum ac tortor sed, iaculis fringilla ex. Nam congue posuere porta. Quisque cursus risus eros, eu euismod quam posuere ut. Donec non nisl vel eros placerat pretium et sed dolor. In ac dolor ut turpis ultricies rutrum id vitae ante.

Full test

Sed tristique at nisi eget fringilla. Vivamus ullamcorper vestibulum felis, eget rhoncus orci mollis vitae. Vestibulum ut volutpat odio, vitae porttitor nisi.

Nam et gravida felis, non ornare odio. Ut ligula ex, bibendum ac tortor sed, iaculis fringilla ex. Nam congue posuere porta. Quisque cursus risus eros, eu euismod quam posuere ut. Donec non nisl vel eros placerat pretium et sed dolor. In ac dolor ut turpis ultricies rutrum id vitae ante.