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| 1. |
Before the evolution of money, commodities were exchanged for commodities. In such situations, how would people have maintained their accounts? |
| Answer» SINCE money was not a part of Barter system, all reciepts were recorded in the form of GOODS exchanged. The value of a good or service was expressed in TERMS of another commodity. For ex- 5 eggs is equal to 1 apple or 10 goats for 1 BIG BUFFALO etc. | |