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UNT1: Early Econo Development & Emergence of Trade Cheat Sheet by

economics     technology     markets

1. Self Suffic­iency and Dependance on Agricu­lture

1. The earliest commun­ities were self sufficient societies. They were hunter - gatherers and moved around to find resources to provide for themse­lves.
2. Later people domest­icated animals and set up farms in one area. Here they produces good for themselves and grazing for their cattle. They provided only for themse­lves.
3. Ex. of self sufficient societies today: The San (Botswana & Namibia); The Himba (Namibia) and The Masai (Kenya & Tanzania)

2. Bartering, Trade & the Emergence of Money

1. People started to specialise in certain tasks. (E.g. Making cloths, farming with animals etc.) This caused for them to produce a surplus.
2. The system of bart­ering was set up so that people could trade their surplus. People may have specia­lised in one area and struggled with another, this caused for them to swap for their neighbour.
Limi­tations Regarding Barter­ing
a) Both parties must want to swap, b) agree on how much to swap for another product and c) Some products are difficult to divide.
Adva­ntages of Money Over Barter­ing
a) You can hold and accumulate money, b) you can divide money into smaller units c) money holds it's value so people don't need to use it immedi­ately.

3. Language, Skills and Learning

1. At first minimal language was only needed to commun­icate with family and neighb­ours. This changed when specia­lis­ation and trade came about as there was a need to teach and negotiate.
2. Initially people only needed skills which would help them secure food and water and parents would teach children these skills. Eventu­ally, with the system of bartering, specia­lis­ation become more popular.
3. Training was needed for specia­lis­ation in different fields.
 

4. Wealth power and accumu­lation

Self Sufficient society
The strongest people were the most powerful. (They could fight) + wealth was counted in baterable items such as cattle.
Mordern Society
Wealth and Power usually go hand in and.

Masai People of Kenya

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