Question

Which of the following is a basic characteristic of traditional trading networks?

• A. They only dealt in cash payments.
• B. Traditional banks were basically nuclear family firms.
• C. Trading and banking activities were organised through caste and kinship relations.
• D. The economic activities of these groups represented a kind of ’European capitalism’.

Answer 1

Answer: (C)

Trading and banking activities were organised through caste and kinship relations.

Answer 2

Traditional trading networks often relied on social structures such as caste and kinship, facilitating trade and banking through established personal relationships rather than formalized institutions.