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In ancient times, credit was primarily used for trade and commerce by allowing merchants to buy goods and services without immediate payment. This was often facilitated through promissory notes or loans from wealthy individuals or temples, which acted as early banks. Credit systems varied across cultures, with some civilizations, like the Mesopotamians, using clay tablets to record debts and transactions. Overall, credit helped stimulate economic activity by providing access to resources and enabling long-distance trade.
What else can I help you with?
Which of these statements does not describe the banking system in ancient Egypt?
Bank issued letters of credit to be used as currency
Is ancient a noun verb?
The word 'ancient' is a noun and an adjective.The noun 'ancient' is a word for someone who is very old; a word for someone who lived a long time ago; a word for a person.The adjective 'ancient' is a word used to describe a noun as of or relating to a period of time long past.
How did the ancient Romans make pencils?
most of the time they used sticks to draw on wax tablets, but they also used feathers and ink.
Time that equaled a year ancient time?
The time that equaled a year in the ancient time was called "anno"
What does trireme mean in ancient Greece time?
A large ancient warship that was powered by both sails and oars.
Who was first to use an abacus?
Credit is given to the ancient China but it was widely used in the ancient world
Which of these statements does not describe the banking system in ancient Egypt?
Bank issued letters of credit to be used as currency
Which of the statements does not describe the banking system in ancient Egypt?
Bank issued letters of credit to be used as currency
What time-measuring devices were used in ancient times?
The time-measuring devices used in ancient times include chronometers and hourglasses. These were commonly used by explorers in their voyages.
What is HICR TERM on credit report?
Its the highest credit amount used at any one given point in time on your revolving credit product.
What in Ancient Egypt was papyrus used for?
they used papyrus for paper in ancient Egypt and took some time to make it too.
How the ancient China tell time?
They used sun dials
What were the time measuring devises used in ancient times?
sundials
What did Ancient athenians get credit for?
Solon established democracy
What are the flags of the countries the Romans invaded?
Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.Flags were not in use for nations during the time of the ancient Romans. The only flags used were the military flags used by the cavalry and sometimes by the infantry for parade purposes.
What is a simile for old?
As old as the hills
Did credit cards exist in the 80s?
Yes, credit cards existed in the 1980s. They were widely used for making purchases and transactions during that time.
