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5. What are Aids to trade ? Name them., , A: many factors help to the progress of trade these are called, as aids to trade. The important Aids are:, , Transport, banks, , ine, , uP wn, , warehouse facilities, , advertisements, insurance etc., , 6. What are craft guilds?, , A: To fulfill the requirements of the agriculturist some, people started to do some crafts. They’ve become, professional craftsmen such as carpenters, Weavers,, Builders, pottery maker etc., , 3. What are the difficulties of barter system? How has, money solved this problems?, , A: Difficulties of the barter system :, , 1. lack of double Coincidence of wants., 2. lack of common measure of value., 3. the difficulty of the subdivision., , 4. difficulty to store the goodS, , to overcome the above difficulties Money aS v can {, , solve through these measures., , 1. metals were used as a medium of exchange., 2. paper money issued by the central bank., , 3. it has the full support of government., 4, , nowadays bank money in the form of cheques,drafts, bills,, credit card,debit card etc., , 2. Explain the different types of economic activities., , A: Economic activities can be classified into three types,they, are:, , i, , business : it is mainly concerned with the production and, exchange of goods and services., , profession : specialised technical and personal services like, doctors ,lawyers,Chartered Accountants have come under, profession., , employment: it is the work undertaken by the people, , under an employer for salary or wages. Example :, labourers, agricultural labourers.