Refer to the article "From Bartor to Bitcoin" in your Money, Money, Money magazine for a complete version of this text. Based on the information in "From Bartor to Bitcoin," why is wampum, the eurroney used by Native Americans, replaced by other currencies? It is too expensive to produce it compared with other options for currency. furopeans begin making it and flood the market, making wampum tose its value. It becomes too expensive to find the materials to make wampum. furopeans introduee their own form of eurrency in North Ameriea. 1 2 3 4 5 Finish

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Based on the information provided in the article "From Bartor to Bitcoin," the reasons why wampum, the currency used by Native Americans, was replaced by other currencies can be summarized as follows:

1. **Production Costs**: It became too expensive to produce wampum compared to other options for currency. The labor and resources required to create wampum made it less viable as a currency.

2. **Market Saturation**: Europeans began making wampum and flooded the market, which caused wampum to lose its value. The increased supply without a corresponding increase in demand led to devaluation.

3. **Material Sourcing**: It became too expensive to find the materials needed to make wampum. As resources became scarcer or more difficult to obtain, the practicality of using wampum diminished.

4. **Introduction of European Currency**: Europeans introduced their own forms of currency in North America, which were often more convenient and widely accepted, leading to a decline in the use of wampum.

In summary, the combination of high production costs, market saturation by European-made wampum, increased material costs, and the introduction of European currencies contributed to the decline of wampum as a currency among Native Americans.
Wampum was replaced by other currencies because it became too expensive to produce, Europeans made and flooded the market with it, the materials to make wampum became hard to find, and Europeans introduced their own money in North America.

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