Bartering Flashcards
Give an example where a farmer is restricted?
A sheep farmer in the Karoo has lots of wool and mutton,but very little timber ,because trees do not grow naturally in the Karoo. A woodcutter in Knysna has lots of timber, but the forest in the area make it difficult to find good grazing for livestock.
Each farmer has something that ten other one ____.
Wants
What was the earliest form of money?
Livestock
What are commodities?
Items that people use for trade.
What is bartering?
A form of trade in which people exchange goods without money.
What is a good example of a traditional society in Africa?
The trans-Saharan trade
Between what time did countries in Asia and Europe trade in Africa?
8th and 16th
Which trade route did they take?
The trade route that crossed the Sahara Desert.
Which goods did Africa produce?
Gold,salt,ivory and slaves.
What did the Europeans and Asians produce?
Fabric as like silk, as well as beads and ceramics.
Which system did the Europeans, Africans and Asia use to trade?
The complex barter system.
Where did caravans of camels carrying commodities come from? And where were they going?
Algeria,Libya and Egypt. From
Ghana,Mali and Nigeria (West Africa
). To
What was an important part of the barter system?
Trust
What was the problem with these routes?
Trust was needed because often these parties didn’t speak the same language.
What is silent bartering?
A kind of barter in which traders exchanged commodities without speaking or interacting with each other.
Why do traditional societies have limitations?
The environment where subsistence farmers produce goods does restrict what and how much these farmers could produce.
Advantages of bartering?
- Very simple and not complicated you save a lot of money and still get sow thing you need.
- You can trade unrelated products and barter with sow one overseas and no need to check the exchange rate
Disdvantages of bartering
- The value of goods can’t be distributed equally
* Bartering foods means you cannot store it for long periods for now. You cannot always get what you want.
