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Okpogho is one of the most ancient cities in Africa located in today Enugu State of Nigeria. Okpogho is well known for her distinguished strides in iron smelting which ended the world's trade by barter system. The originality of Okpogho could be traced from earlier ancestor called Ezeanyanwu a great worrior, farmer and healer (herbalist).
Other anthropologists have questioned whether barter is typically between "total" strangers, a form of barter known as "silent trade". Silent trade, also called silent barter, dumb barter ("dumb" here used in its old meaning of "mute"), or depot trade, is a method by which traders who cannot speak each other's language can trade without talking ...
In the immediate post-World War II period, Nigeria benefited from a favourable trade balance. Although per capita income in the country as a whole remained low by international standards, rising incomes among salaried personnel and burgeoning urbanization expanded consumer demand for imported goods.
Long before the introduction of currencies into the area, the Atyap people practiced barter trade up until the mid-18th century when the Hausa traders began passing across Atyap land, importing swords, bangles and necklaces and the Zangon Katab market developed (a few miles from the Atyap traditional ground or capital at A̱tyekum – the area ...
Initially, the Onitsha main market was called the Otu-nkwor Eze. This was because it opened for business activities on Nkwor market days, that is, every four days as the Igbo calendar mapped it. However, as people settled in Onitsha and the population grew, it became a daily market with trade by barter and cowries as a medium of exchange.
Silent trade, also called silent barter, dumb barter ("dumb" here used in its old meaning of "mute"), or depot trade, is a method by which traders who cannot speak each other's language can trade without talking. Group A would leave trade goods in a prominent position and signal, by gong, fire, or drum for example, that they had left goods.
Countertrade also occurs when countries lack sufficient hard currency, or when other types of market trade are impossible.. In 2000, India and Iraq agreed on an "oil for wheat and rice" barter deal, subject to United Nations approval under Article 50 of the UN Persian Gulf War sanctions, that would facilitate 300,000 barrels of oil delivered daily to India at a price of $6.85 a barrel while ...
A busy market in Mile 12, Lagos, Nigeria. Retail trade consists of the sale of goods or merchandise from a very fixed location [3] (such as a department store, boutique, or kiosk), online or by mail, in small or individual lots for direct consumption or use by the purchaser. [4]