Trade

When early civilizations were considered hunters and gatherers they practiced indirect production.

• True

• False

______________ production is when you get to trade with others for the needs and wants you may have.

The first form of trade was called

• purchasing

• exchanging

• bartering

• swapping

An advantage of bartering was

• you could get everything you needed

• you could now get items you could not before by now trading

• you had large quantities of products extra

A major disadvantage of bartering is that

• You could trade goods for other goods you did not have

• you may not like what you got

• the items traded were not always equal in value

• Sometimes you had to take more than what you actually wanted

The disadvantage of bartering called divisibility of goods meant that

• you could not share your goods with more than one person

• you would have to divide your goods to make sure you still had some for your family

• before leaving your home you would have to cut your animals so you could carry them

• some items were hard to divide when bartering

Many goods which had been exchanged could not be saved for use at a future date because many such items could not be stored for a long period of time. This explains which of the following disadvantages

• safety of wealth

• storage problems

• storage of wealth

• warehousing

Easily transferred from 1 person to another, to make the exchange of money for products easier.

• Durability

• Portability

• Divisibility

• Scarcity

Money has what if it can be broken down into smaller units so it can be used as needed?

• Divisibility

• Portability

• Scarcity

• Durability

What is money if it is available but only in a limited supply?

• Portable

• Durable

• Divisible

• Scarce