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WAEC Commerce 2007 Question 1

Question 1

Money

Which of the following was not used as a medium of exchange by the early Europeans that came to West Africa?

  1. A.Pounds and shillings
  2. B.Copper manillas
  3. C.Iron bars
  4. D.Cowries.
Show the answer and explanation

Answer: A (Pounds and shillings)

Explanation

Early European traders used manillas, iron bars and cowries as money; pounds and shillings came only with colonial currency later.