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Early economic development and trade

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by

Joe Morgan

on 14 July 2013

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Transcript of Early economic development and trade

Early Economic Development and Trade
Self-sufficiency and dependance on agriculture
Earliest humans were nomadic hunter-gatherers.
Language, skills and learning
It is assumed that people living in the same communities and regions spoke the same language, so there were generally no communication problems.
Wealth, power and accumulation
The permanent settlements of farmers and growing economic surplus led to the first class divisions within societies.
Barter, Trade and Emergence of Money
Civilisation started to develop when families grouped together because they needed protection and for organising their agricultural activities.
Their technology was stone-age tools such as clubs and spears for hunting and protection, and they could light a fire
Over time, early people further developed tools to cultivate the land and weapons for protection and hunting. They also tamed various animals
.
This allowed people to begin to specialize and produce one single commodity, which led to the first forms of trade.
Barter was the most widespread method of trade originally but there were many problems with it.
Due to the problems encountered with barter, the first primitive forms of means of payment or money developed. These were generally commodities such as gold, copper, cowry shells or beads.
The skills of early humans were hunting, taming animals, producing agricultural commodities and manufacturing primitive tools for hunting and cultivating the soil.
All these skills were acquired or taught within each community. The children learned the language, religion and any other knowledge from their parents and members of the community in an informal manner.
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