82.3k views
5 votes
1.1 Define the following terms: 1.1.1 Currency 1.1.2 Barter 1.1.3 Traditional societies​

User Sannu
by
7.5k points

1 Answer

3 votes

Answer:

currency:Originally, currency was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and in Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities.

Barter:Bartering is the exchange of goods and services between two or more parties without the use of money. It is the oldest form of commerce. Individuals and companies barter goods and services between each other based on equivalent estimates of prices and goods.

Traditional societies:traditional society refers to a society characterized by an orientation to the past, not the future, with a predominant role for custom and habit. Such societies are marked by a lack of distinction between family and business, with the division of labor influenced primarily by age, gender, and status.

User Frankey
by
6.9k points