Final answer:
Money has various forms, with shells and cigarettes historically used as commodity money and currency as the most common form today. Credit cards represent access to M1 currency, not actual money. Changes in technology and global economies have shifted us from commodity money to fiat and digital forms of money.
Step-by-step explanation:
The concept of money has evolved significantly from its early origins as a physical commodity to the current use of fiat currency and digital transactions. Shells, such as cowrie shells, have historically served as money in various cultures and are an example of commodity money, which has intrinsic value beyond its use as money. Cigarettes have been used as currency in situations where conventional money was scarce or ineffective, particularly in prison economies or during wartime; this is another form of commodity money. Currency, including both paper notes and coins, is the most widely recognized form of money today because it fulfills all functions of money as a medium of exchange, a store of value, and a unit of account. Bottled water and acorns, while they can be bartered, do not commonly serve as money as they do not easily fulfill these monetary functions, especially not being a standard of deferred payments or a unit of account. Credit cards, while not money themselves, represent the ability to access and spend M1 currency, which the cardholder later repays to the credit card company.
Items like houses, land, art, rare coins, or stamps can serve as a store of value and can be sold at different times for money, but they are not themselves used as a medium of exchange in everyday transactions. Technology and global integration have reduced the need for paper currency, increasing the use of digital payments like debit and credit cards. The transformation from commodity money to fiat and digital forms reflects the changing needs and technologies of global economies.