0
What else can I help you with?
In a economy individual goods are traded for other goods.?
In an economy where individual goods are traded for other goods, this system is known as barter. It allows people to exchange goods and services directly without the need for money. However, barter can be inefficient due to the necessity of a double coincidence of wants, meaning both parties must desire what the other offers. This limitation led to the development of currency as a more efficient medium of exchange.
What was the basis of the Phoenician economy?
Trade. The traded timber, cloth, dyes, wine which they produced, and also carried trade goods they purchased in other places on to other buyers.
What goods are traded between Canada and China?
Some of the goods that are traded between Canada and China are chemicals, wood products, agricultural machinery, and fish products. Other things traded are metal and industrial equipment.
Does buying goods from other countries hurt the economy?
No, the economy is built on trade and the circulation of money, by buying the goods you help the economy. By supporting a developing country's goods by buying them you help create demand for their industries and thus support their economy.
What kind of economy is the EU?
The European Union is a trade alliance and therefore does not have an economy. Most of Europe has a mixed economy. This means the economy shares qualities from both socialistic and free market economies. For the record, the EU is an agreement between countries that allows goods to be traded without tariffs, quotas, or any other bueracratic red tape.
In a economy individual goods are traded for other goods.?
In an economy where individual goods are traded for other goods, this system is known as barter. It allows people to exchange goods and services directly without the need for money. However, barter can be inefficient due to the necessity of a double coincidence of wants, meaning both parties must desire what the other offers. This limitation led to the development of currency as a more efficient medium of exchange.
What was tobacco traded for in Europe?
They were traded for money and other goods.
What did zheng he traded to the other countries to get in?
Zheng He traded Chinese goods such as silk, porcelain, tea, and other luxury items in exchange for valuable products and goods from other countries, such as spices, gems, exotic animals, and rare woods.
What did the Chinese trade and what goods did they receive from other people?
they traded silk for gold and other goods !
What was their economic like?
they traded goods for other things
What was the basis of the Phoenician economy?
Trade. The traded timber, cloth, dyes, wine which they produced, and also carried trade goods they purchased in other places on to other buyers.
What was a reason the Greeks traded with other cultures?
To improve their economy.
Why was Kerma important?
Kerma was important because it traded goods with Egypt and other Africa cultures were traded.
What was used instead of coins in ancient China?
They traded/ bartered, which is the trade of goods for other goods.
What was the job of a ancient Egyptian trader?
It was through them that the economy thrived. Egypt got gold ivory and other valuables from Kush and other foreign empires at the time. They got to see some of the other objects that other countries had at the time. They needed merchants to make profits off their goods and learn and bring back other valuables.
What goods are traded between Canada and China?
Some of the goods that are traded between Canada and China are chemicals, wood products, agricultural machinery, and fish products. Other things traded are metal and industrial equipment.
What did the English settlers trade with the Powhatans?
The Powhatans traded food, fur and leather in exchange for tools, pots guns and other goods.
