Choose whether the given statement is True or False:

Since time immemorial, man indulged in trading activity.

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True

False

answer is A.

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Detailed Solution

This statement is true.
Since immemorial times, man has indulged in trading activities. In ancient times, trade activity was called the barter system. A barter system is different from trading activities prevailing in modern times. The barter system involves exchanging goods instead of money because, in ancient times, money was not invented. The biggest challenge with this system was that a person selling his product had to find another seller who had the goods the first seller wanted, and then another seller needed the goods the first seller had. It was tough to find the circumstances in which both parties accepted each other's deal. For example, if a person who needs rice has wheat, he will look for the person who has rice and needs grain.

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