EMS1

What is the term used to describe people who lived self-sufficient lives over 100,000 years ago?

• Nomads

• Herders

• Hunter-gatherers

• Traders

What is the term used to describe the practice of exchanging goods between groups?

• Herding

• Mining

• Hunting

• Bartering

What were the examples of people who lived self-sufficient lives mentioned in the text?

• Samurai in Japan

• Vikings in Norway

• Inuit in Alaska

• Romans in Italy

What was the main reason why bartering was difficult according to the text?

• Lack of communication

• Too many rules to follow

• Difficulty in carrying goods

• Lack of interest in trading

What were the first exchange goods that were considered valuable in Africa?

• Salt, cloth, iron ore, cowry shells

• Gold, silver, copper

• Fruits, vegetables, meat

• Wood, stones, clay

What were the first coins made of according to the text?

• Silver

• Bronze

• Gold

• Copper

What did goldsmiths do with the gold they received from people according to the text?

• Melted it into coins

• Used it for jewelry

• Sold it to traders

• Stored it in safes

What is the term used to describe a desire or craving for certain things that are not essential for survival?

• Essential needs

• Natural needs

• Primary needs

• Secondary needs

What is the basic economic problem mentioned in the text?

• Limited needs and wants

• Unlimited resources to satisfy needs

• Limited resources to satisfy needs and wants

• Unlimited needs and wants

What is the term used to describe the strength of a need or want?

• Duration

• Frequency

• Magnitude

• Intensity