ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The major trade goods were woollen blankets, cotton and linen cloth, metal goods, firearms and fishing gear. Tobacco, alcohol, trade jewellery and other luxury items accounted for only ten percent of the goods traded. The fur traders received far more than furs from Native people.

Detailed explanation-2: -Trade between Plains tribes often took the form of an exchange of products of the hunt (bison robes, dried meat, and tallow) for agricultural products, such as corn and squash.

Detailed explanation-3: -The Native Americans provided skins, hides, food, knowledge, and other crucial materials and supplies, while the settlers traded beads and other types of currency (also known as “wampum”) in exchange for these goods.

Detailed explanation-4: -Pueblo tribes such as the Tewas exchanged surplus corn, cotton textiles, ceramics, and turquoise for the Plains Indians’ tallow, salt, buffalo meat, and hides. This new commercial intercourse was based, in part, on the same system of reciprocal gift giving that governed trade among the Indians of eastern North America.