This is also a follow-up to an article I wrote some time ago about the transatlantic slave trade that took place in Africa some centuries ago. I have received several emails and questions concerning the mode of trade and the taxation system that was in place in colonial Africa and I will try my best to answer some of those questions in this post. TRADITIONAL SOCIETIES Money is part of our everyday life that it is difficult to imagine how anything is possible without it. Goods and services are acquired at a certain price worked out in the currency of our time. Back in history this is not how things were done in traditional societies. Trade was done in a form of bartering. Bartering is an GR. 7 EMS LESSON PLANS – TERM 1 (WEEK 1-10) 1.1.1 Traditional societies and bartering (2 hours) 1.1.2 Development of money Electronic banking (2 hours) Internet or library (to research the history of money and the security features of South African bank notes). From the time of the Union of South Africa (1910),Union of South Africa - Wikipedia the currency was the British Pound, together with the coinage (two and six, shilling, six pence, tickey, penny). South Africa became a Republic in 1961 and the Sou A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution. Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money. Prior to the arrival of European settlers in the 15th century the economy of what was to become South Africa was dominated by subsistence agriculture and hunting.. In the north, central and east of the country tribes of Bantu peoples occupied land on a communal basis under tribal chiefdoms. It was an overwhelmingly pastoral economy and wealth was measured in the number of cattle men held.
Back in history this is not how things were done in traditional societies. Trade was done in a form of bartering. Bartering is an exchange of goods and services without using money. People relied on the environment and area where they lived eg. subsistence farming and hunting. Start studying History of money grade 7 unit 1 traditional societies and bartering. Learn vocabulary, terms, and more with flashcards, games, and other study tools. They believe official currencies governments can create out of thin air will eventually give way to “sound money”, by way of barter trade, a return to gold, or some other form of market-based
Start studying History of money grade 7 unit 1 traditional societies and bartering. Learn vocabulary, terms, and more with flashcards, games, and other study tools. They believe official currencies governments can create out of thin air will eventually give way to “sound money”, by way of barter trade, a return to gold, or some other form of market-based Prior to the arrival of European settlers in the 15th century the economy of what was to become South Africa was dominated by subsistence agriculture and hunting.. In the north, central and east of the country tribes of Bantu peoples occupied land on a communal basis under tribal chiefdoms. It was an overwhelmingly pastoral economy and wealth was measured in the number of cattle men held.
1. Herders moved in larger groups from place to place. 2. As groups met other groups, the exchanged goods. 3. This is called bartering. 4. e.g. exchange 2 of your goats for 1 donkey from another group. The type of money used in South Africa is rand. One South African rand is worth only $0.093. However, the exchange rate is constantly changing. In ancient times, this system involved people in the same area, however today bartering is global. The value of bartering items can be negotiated with the other party. Bartering doesn't involve money which is one of the advantages. You can buy items by exchanging an item you have but no longer want or need. Back in history this is not how things were done in traditional societies. Trade was done in a form of bartering. Bartering is an exchange of goods and services without using money. People relied on the environment and area where they lived eg. subsistence farming and hunting. Start studying History of money grade 7 unit 1 traditional societies and bartering. Learn vocabulary, terms, and more with flashcards, games, and other study tools. They believe official currencies governments can create out of thin air will eventually give way to “sound money”, by way of barter trade, a return to gold, or some other form of market-based Prior to the arrival of European settlers in the 15th century the economy of what was to become South Africa was dominated by subsistence agriculture and hunting.. In the north, central and east of the country tribes of Bantu peoples occupied land on a communal basis under tribal chiefdoms. It was an overwhelmingly pastoral economy and wealth was measured in the number of cattle men held.
TRADITIONAL SOCIETIES Money is part of our everyday life that it is difficult to imagine how anything is possible without it. Goods and services are acquired at a certain price worked out in the currency of our time. Back in history this is not how things were done in traditional societies. Trade was done in a form of bartering. Bartering is an GR. 7 EMS LESSON PLANS – TERM 1 (WEEK 1-10) 1.1.1 Traditional societies and bartering (2 hours) 1.1.2 Development of money Electronic banking (2 hours) Internet or library (to research the history of money and the security features of South African bank notes).