The form of trade practised by the early men was characterized by?

Assessment: WAEC SSCE - Commerce - 2005 (Objective) Subject: Commerce

Question 1 Report

The form of trade practised by the early men was characterized by?
Answer Details
The form of trade practised by the early men was characterized by exchange of goods for goods. This means that people used to exchange the goods they produced for the goods produced by others without involving any form of money. For example, a farmer could exchange his crops for the meat of a hunter. This system of exchange was based on the principle of barter, where two parties exchange goods or services without using money as a medium of exchange. There was no efficient distribution system or organized warehousing in those times, and people had to rely on personal networks to find trading partners.

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