section b\nanswer any one of the two questions in this section in the answer - book.\nquestion 2\nanswer the…
section b\nanswer any one of the two questions in this section in the answer - book.\nquestion 2\nanswer the following questions.\n2.1.1 name two ways used by guilds to produce surplus for trading. (2x1) (2)\n2.1.2 what role did the development of towns and cities play in the early economic development? (1x2) (2)\n2.2 study the picture below and answer the questions that follow.\n2.2.1 what type of trade is depicted in the cartoon above?\n2.2.2 how did people use this type of trade?\n2.2.3 briefly describe the term barter.\n2.2.4 explain the intervention of the government in trade.\n2.2.5 what led to the economy to use money?
Answer
Brief Explanations:
2.1.1: Early societies used methods like hunting - gathering and basic farming to produce surplus for trading. 2.1.2: Towns and cities provided larger markets, specialization of labor, and infrastructure for economic development. 2.2.1: The type of trade depicted is barter. 2.2.2: People exchanged goods and services directly without using money. 2.2.3: Barter is the direct exchange of goods or services between parties without a medium - of - exchange like money. 2.2.4: Government can intervene in trade to set regulations, tariffs, and ensure fair trade practices. 2.2.5: The inefficiencies of barter, such as the double - coincidence of wants, led to the use of money.
Answer:
2.1.1: Hunting - gathering, basic farming. 2.1.2: Provided larger markets, specialization of labor, infrastructure. 2.2.1: Barter. 2.2.2: Exchanged goods and services directly. 2.2.3: Direct exchange of goods or services without money. 2.2.4: Set regulations, tariffs, ensure fair trade. 2.2.5: Inefficiencies of barter (double - coincidence of wants).