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What caused the economic downturns in the late 1800s?
Businesses made more goods than people had the money to buy.
What system was Before the development of money as a medium goods and services were exchanged through?
Before the development of money, goods and services were exchanged through a barter system. In this system, individuals traded items or services directly for other items or services based on mutual agreement of value. Barter often required a "double coincidence of wants," meaning both parties had to want what the other offered, which made transactions less efficient. This limitation eventually led to the creation of money as a standardized medium of exchange.
What was the point of view on buying and selling Manufactured goods in the north?
The North's point of view for selling or buying Manufactured goods was fairly good. They had alot of factories so it made it easy for people to buy the goods.
What is the role of the consumer in a market economy?
Consumers are important because they are the people who actually buy the goods made by the producers
Why do people consume goods and services?
Because they do not make their own food and have to eat food made from other organisms.
Who made the first advertisements?
The person who first exchanged goods or services for other goods or services
Who controlled African slave trade?
It was a trading triangle:- Goods were sailed to West Africa and exchanged for slaves. The slaves were sailed to America and exchanged for tobacco, sugar and cotton. Tobacco, sugar and cotton were sailed to Europe and exchanged for money The money was used to purchase more goods to be sailed to Africa. Profit was taken out at each point in the triangle by the most money was made at the third point when goods form the Americas came back to Europe. That said the slave trading kingdoms in Africa became quite prosperous too as did the American plantation owners.
What did the people of ancient Greece use to buy and sell goods?
In ancient Greece, people used coins as their primary medium for buying and selling goods. These coins were typically made of precious metals like silver and gold, and they often featured images of gods, goddesses, or important symbols. Additionally, barter was common, where goods and services were exchanged directly without the use of money. Markets, known as agoras, served as central places for trade and commerce.
What caused the economic downturns in the late 1800s?
Businesses made more goods than people had the money to buy.
What were people who made pottery jewelry linen clothing and other goods the could be use in trade?
People who made pottery, jewelry, linen clothing, and other goods for trade were often artisans or craftspeople. They specialized in creating high-quality items that could be exchanged for other goods or services, playing a vital role in local and regional economies. Their craftsmanship not only showcased their skills but also contributed to cultural identity and community sustenance through trade networks. These artisans were essential in facilitating commerce and enhancing social interactions within and between communities.
Why were railroads made?
To move goods quickly. People were an afterthought.
What did lumbee Indians use for currency?
The Lumbee Indians used various forms of currency for trade including wampum beads made from shells, furs, and deerskins. They also sometimes used a barter system where goods and services were exchanged directly for other goods or services.
What is production line?
a process in a factory in which goods are made in stages by a series of people or machines arranged in a line process in a factory in which goods are made in stages by a series of people or machines arranged in a line
What did the people in ancient India use to buy stuff?
In ancient India, people primarily used coins as a medium of exchange for buying goods. The earliest coins, known as "punch-marked coins," were made of silver and featured various symbols. Besides coins, barter was also common, where goods and services were directly exchanged without the use of money. Trade routes facilitated commerce, and merchants played a vital role in the economy.
Did the people who built stonehendge leave written records?
No, written records were made. Actually Stonehenge was constructed by several different groups of people through time.
What were the railroads made for?
To make transportation of goods and the travel for people easier.
How did the tariff in 1828 affect people in the south?
People in the south imported goods from Europe a lot. The tarrrif made it more expensive to import goods from out of the country.
