1.1 Flashcard B

Front

How were the Egyptian pyramids primarily paid for?

Back

Beer and grain wages

Answer explanation

The Egyptian pyramids were primarily funded through beer and grain wages, which were provided to laborers as compensation for their work, rather than through monetary systems like gold or silver coinage.

Front

Why did grain-based economies eventually decline?

Back

Grain could spoil and was difficult to store in large quantities

Answer explanation

Grain-based economies declined primarily because grain could spoil and was difficult to store in large quantities, making it less reliable as a trade commodity compared to more durable goods.

Front

What civilization first popularized the use of state-minted gold coins?

Back

The Persians

Answer explanation

The Lydians were the first to mint gold coins around 600 BCE, but the Persians later popularized their use across a vast empire, standardizing currency and facilitating trade.

Front

Evaluate the strategic reasons why ancient civilizations might have chosen to use grain or coins as a basis for their economies.

Back

Grain was abundant and essential for survival, while coins were durable and easy to transport.

Answer explanation

Grain was vital for sustenance, ensuring food security, while coins provided a portable and durable medium for trade, facilitating economic transactions. This combination supported the growth of ancient economies.

Front

What organization controlled trade and production in medieval European cities?

Back

Craft guilds

Answer explanation

Craft guilds were the primary organizations that controlled trade and production in medieval European cities, regulating quality, prices, and training of artisans, unlike the Catholic Church, monarchy, or independent farmers.

Front

How did craft guilds regulate trade?

Back

They controlled prices, wages, and product quality.

Answer explanation

Craft guilds regulated trade by controlling prices, wages, and product quality, ensuring that standards were maintained and competition was fair among members.

Front

What commodities were primarily traded by the Hanseatic League?

Back

Wool, fish, and lumber

Answer explanation

The Hanseatic League primarily traded wool, fish, and lumber, which were essential commodities in their network of trade across Northern Europe, supporting both local economies and international markets.

Front

Analyze how the manorial system might have affected the economic opportunities for peasants in medieval Europe.

Back

It limited peasants to agricultural labor with little chance for economic advancement.

Answer explanation

The manorial system restricted peasants to working the land for their lords, limiting their ability to own property or engage in other economic activities, thus providing little opportunity for economic advancement.

Front

Imagine you are an advisor to a European monarch during the mercantilist era. What advice would you give to maximize national wealth, and what potential problems might arise from following this advice? Options: Encourage free trade and open markets; risk of losing colonies, Accumulate gold and silver, restrict imports; risk of economic stagnation and high prices, Eliminate all taxes; risk of government bankruptcy, Focus on agricultural production only; risk of industrial decline

Back

Accumulate gold and silver, restrict imports; risk of economic stagnation and high prices

Answer explanation

The correct advice is to accumulate gold and silver while restricting imports, as this aligns with mercantilist principles. However, this can lead to economic stagnation and high prices due to limited competition and resources.

Front

Which economic system was most closely associated with self-sufficient agricultural estates in medieval Europe?

Back

Manorialism