Early Economies
People produced everything they needed for themselves and their families in this type of economy
What is Subsistence economy?
This is the main problem associated with barter that made trade difficult
What is a double coincidence of wants?
This is one item used as money in early societies before coins and notes existed.
What is cowrie shells/beads/stones.
This characteristic of money means it can be easily carried and transported.
What is portability?
This function of money allows people to borrow now and repay later.
What is standard of deferred payment?