Question:

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

Updated On: Nov 6, 2024
  • They only dealt in cash payments.
  • Traditional banks were basically nuclear family firms.
  • Trading and banking activities were organised through caste and kinship relations.
  • The economic activities of these groups represented a kind of ’European capitalism’.
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The Correct Option is C

Solution and Explanation

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.
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