← CSEC Principles of Business lessons

1.1 - 1.2 - Development of Barter and the Role of Money

⭐ +290 XP
  • ✓explain business activity
  • ✓explain the concept of bartering
  • ✓explain the advantages and disadvantages of bartering
  • ✓explain the meaning of double coincidence of wants
  • ✓explain the concept of money
  • ✓explain the characteristics of money
  • ✓explain the functions of money
⏱ 0 mins🎯 58 marks
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Imagine a local market on a Saturday morning. A farmer wants cooking oil but has only yams, a vendor has oil but wants eggs, and another person has eggs but desires fish. Why might this trade stall? Let's dive in!
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Write one sentence: Why might trade ‘stall’ when people barter?

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List two items in your home that would be difficult to trade by barter (consider size, value, or spoilage).

💡EngageQuestion 17 of 45

Which statement do you think best describes business activity?

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💡Engage
Imagine a local market on a Saturday morning. A farmer wants cooking oil but has only yams, a vendor has oil but wants eggs, and another person has eggs but desires fish. Why might this trade stall? Let's dive in!
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