Homework

1. Define the three stages of economic activity. Give examples from your own country

1. Slaughter of enemies.
2. Slavery and serfdom, along with free labor, regulated by custom, operating through contract.
3. Labor regulated by individual contract, with increasing use of group contract, and legal protection of labor. Slavery disappearing.

2. What is meant by a subsistence enonomy ? Are there still people in the word using this 

system ?

A subsistence economy is an economy which refers simply to the gathering or amassment of objects of value; the increase in wealth; or the creation of wealth.Yes people still using these system but is very few.

3. How was money created ?

how money is crated
4. Define Barter and Trade

Brade The exchange of products and/or services without the use of money. also called exchange.

Trade The exchange of products and/or services without the use of money. also called barter.
5. What is an economic system ?

An economic system is the combination of the various agencies, entities (or even sectors as described by some authors) that provide the economic structure that defines the social community.
6. What is capitalism ? Check out the cartoon and the pyramid. Do you agree with it ? What is your opinion ? Capitalism is an economic system that became dominant in the Western world following the demise of feudalism.No im not agree with the capitalism, My opinion about capitalism is that capitalism makes people become consumers,that capital is the primary need of man, which makes their ignorance as well asincreased emphasis on uninteresting things

8. When were metal coins invented ?

Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and banknotes make up currency, the cash forms of all modern money systems.

more about coins

9. When and where was paper money first used ?

In China in between 600 and 1455

11. What are the advantages and disadvantages of using a credit card nowadays ?

The advantages is that you can buy thing and you can pay it latter but the disadvantages are that you have a lot of debts