The form of trade practiced by the early men was characterized by

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

Question 1 Report

The form of trade practiced by the early men was characterized by
Answer Details
The form of trade practiced by early men was characterized by the exchange of goods for goods. They did not use money as a medium of exchange. Instead, they traded the goods they had for the goods they needed. For example, a farmer might trade a bushel of wheat for a cow from a neighboring farmer. This type of trade is known as barter. There was no organized warehousing or efficient distribution system as goods were mostly produced and traded locally within small communities.
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