In this section, you have a passage. After the passage, you will find some items based on the passage. First, read the passage and answer the items based on the passage. You are required to select your answers based on the contents of the passage and the opinion of the author only.

The emergence of paper money as currency marked a major change in the organisation of financial markets and transactions. Until this change came about, most forms of currency involved precious metals like gold and silver. The value of the coin was directly linked to the value of the gold or silver it contained. By contrast, the value of a paper currency note has no relationship to the value of the paper it is printed on or the cost of its printing. The idea behind paper money was that a medium or means for facilitating the exchange of goods and services need not itself be intrinsically valuable. As long as it represents values convincingly — i.e., as long as it inspires trust — almost anything can function as money. This idea was the foundation for the credit market and helped change the structure of banking and finance. These changes in turn produced further changes in the organisation of economic life.