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Actually, there are 5 types of early money, being: Barter, Gold, Silver, Bronze, and Silk
Simply, the barter system was common because the concept of money had not yet been invented. In a world without money, there are only two ways to acquire resources: (1) expend your own energy to find them or fashion them into something useful or (2) trade what you have for what someone else has. The second choice was far better since it allowed people to make large quantities of a single resource and exchange it for other things that person needed.As soon as money comes onto the scene, the economy shifts away from barter and towards moneyed transactions. Almost no monetary economy has a large barter sector.
the growth of capitalism as an economic system. studyisland.
Suppose I'm a fisherman, and I need a suit. Under the barter system, I have to find a tailor who needs fish. Or, I could find a tailor who needs some bread, then go find a baker who needs some fish.As you can see, the barter system can be quite inefficient and time-consuming. When you replace barter with currency, you have a system that is truly efficient. Now, I can sell my fish to anyone who wants fish, and they can pay me in currency. I can take my currency and get whatever I need. Not only is it more fluid, I also have more time to fish.
Manufacturing is one of the things that helped build African economies rather than weaken them in the early 1970's.
The early American Indians used the barter system to exchange for what they wanted.
barter economy
What activities nade up the early economies of the North America colonies
What activities nade up the early economies of the North America colonies
What activities nade up the early economies of the North America colonies
Actually, there are 5 types of early money, being: Barter, Gold, Silver, Bronze, and Silk
they were awesome
They used barter- trading things for things, instead of money for things.
trade/barter is what helped early india become so complex and civilized
Simply, the barter system was common because the concept of money had not yet been invented. In a world without money, there are only two ways to acquire resources: (1) expend your own energy to find them or fashion them into something useful or (2) trade what you have for what someone else has. The second choice was far better since it allowed people to make large quantities of a single resource and exchange it for other things that person needed.As soon as money comes onto the scene, the economy shifts away from barter and towards moneyed transactions. Almost no monetary economy has a large barter sector.
the growth of capitalism as an economic system. studyisland.
The rapid industrialization between the early 1960s and 1990s are some of the things that built strong economies for the Asian tigers.