Economy

=Economy =

Type Of Money: Before 600 BC there was no monetary system in Greece, so they used the barter system. In this system they traded goods and/or services for goods and/or services. In this system they traded olive oil, wool, and fine pottery. They traded for things they lacked like.... grain and timber. They also traded for animal hides, slaves, and flax for which they used to make linen. Egypt and Italy were two of their trade sources By 500 BC the monetary system came into action. In this system each city-state had it's own coin. Visitors had to get each city-states coins to be able to buy something. This money was called drachma. Drachma was used to buy produce, clothing, jewelry, and etc. Drachma lasted for one Millennium.

Athenian Monetary System: Drachma was set up in the following way, 6 obols = 1 Drachma 100 Drachma = 1 mina 600 minae = 1 talent (Equal to about 57 pounds of silver) Costs: Loaf of Bread - 1 obol Lamb - 8 drachmas Gallon of olive oil - 5 drachmas Shoes - 8 to 12 drachmas Slaves - 200 to 300 drachmas Houses - 400 to 1000 drachmas

By: Morgan [] [] [|http://www.eduplace.com/kids/socsci/ca/books/bkf3/imaps/AC_11_351_grtr] [|ad] [|e/AC_11_351_] [|grtrade.htm]