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Ancient Greece: Economic Systems
Transcript of Ancient Greece: Economic Systems
It exanded their territory
Trade advanced their abilities to transport items from one place to another
It linked Greek communities through their territory
Benefits of Trade
Greek Economy was based on agruculture
With production of little grains, grapes and olives where their main cultivation
It helped create wine and olive oil, which was a popular item in trade throughout the Mediterranian
Trade generated prosperity with them being able to trade both agricultureal and manufacured goods
Greece's geography posed many struggles for those wanting to travel there
It was a hardship to grow crops besides grains
The location of the Balkan Mountains limited travel and communication
Due to these geographic limitations, they depended heavily on maritime trade
In this presentation, you will be informed on the structure of the Ancient Greek economy.
Ancient Greece: Economic Systems
By: Ayleen Herrera & Britney Blas
Trade benfeited those along the Mediterrianian, Anatolia and the Black Sea.
The area in which they traded in ranged from Egypt, Sicily and southern Russia
Interqactions stretched as far as Spain, Macedon and into cities such as Athens and Corinth.
Ship vessels to caravans where used to travel.
Grain came from Egypt,Sicily, and Southern Russia
Salted fish from Spain and Black sea lands
Timber and pitch from Macedon
Tin from Anatolia
Slaves from Egypt and Russia
In 500 B.C., each city state started using coins
Athens used a currency known as the drachma
5 or 6 percent fee was charged to exchange foreign currency to the local currency.
could be used in other Greek cities
Partnerships where formed by laborers in an effort to spread risk of commercial venture
Shops where made which produced manufactured products such as pottery and tools
Often consisted of up to 120 slave employees
Small businesses where made which later grew to larger markets
Any civilians who had a job were considered slaves.
Slaves were often born free, but sold by their families who were too poor to care for them.
Because of great amount of jobs, 1/3 of the Greek population were slaves.
Slaves where owned by other people, being kidnapped, prisoners of war or born into a family of slaves.
Based mainly on trade
Bought and sold goods at a huge marketplace called The Agora
At Agora,merchants sold their goods from small stands
Bought and sold slaves
Relied on both farming and conquering other people
Used slaves and non citizens to produce goods
They did not use coins, instead they used heavy iron bars as their money
Growth of the economy offered the Greeks to get closer within their surrounding communities
Panhellic Festivals reinforced common bonds, and features literacy, athletic and musical contects
The Olympic Games took place every four years and featured contsts in which the most elite athletes competed
With these social gatherings the Greeks where able to greatly expand their realm
Agriculture was the foundation of the Ancient Greek economy.
Nearly 80% of the population was involved in this activity.
Barely was a big part of agriculture
Was less demanding and more productive.
Maritime loans enabled traders to pay for their cargoes
Well-established maritime trade routes around the Mediterranean basin enabled foreigners to travel to Greece
Athens exerted its influence over sea trade.
Was important because it was hard to travel around its terrain
The Upper Class (Athens) possed maxiumum power, having the ability to handle government work and maintain slaves
The Middle Class/Metics were free men (not slaves)but they had little rights compared to the Athens
The Lower Classes/Freedmen include those who used to be slaves but where now free
The Slaves where those who performed all the tough labor, and couldn't do anything without the consent of their owner.
To compensate the lender for this risk
Interest rates could be from 12.5 to 30%
The ship was often the security
The ship was often on the loan.
Greek Pottery served as a large demand in trade between other distant regions
Traces of the fine product have been found as far as the Atlantic coast of Africa
Specialized craftsmen known as
created most of Greece's pottery
Two types of pottery include
(large jugs to carry water)
(small oil containers)
Exchange in culture
Spread of religion
Spread of ideas
Brought stability to the empire
Population grew more than it had been in the Archaic Period in Classical Greece
Becasuse Greece couldn't produce enough wheat to feed its entire population, trade between other lands was important.
Greece during the 8th century BC had about 700,000 people
Several factors caused an explosion of the population, and several declines.
The ancient Greek economy had an effect on society. The Greek economy had an efficient trading network, that united all greek communities. It all consisted of agriculture. Many other cities benefited from the Greek economy.
Greeks used coins which had intrinsic (silver) value
their conventional value was greater than their intrinsic value
What distinguishes Greek coinage from bullion is that, like today’s money, its issuer, the state, stamped it.
Imposing money taxes, then, was a means by which the state monetised the economy.
Currency: In Depth
Alot about what we know about Ancient Greece came from what they etched onto their pottery
Pottery has changed between every age, from the Stone Age to the Hellenistic Era
Types of pottery ranges in Red-Figure, Black-Figure, Geomentric Pottery and more
These object give us hints about the Greek's interest in literature, sculpture and architecture
There are many factors in which Ancient Greece influenced the devloping world. Like the Romans they weren't different due to their architecutal advancements, or powerful political force. They were known for their culture and ability to flourish despite any social or geographic struggle. Through their economy they where able to host festivals such as the Olympic Games, and trade importanty products like grains and manufactured goods. Ancient Greece's economic structure was a strong foundation for its entire society.