Trade & Money in Ancient Greece

The video discusses the historical challenges of bartering and the evolution of currency. Initially, bartering was used to exchange goods, but it was inefficient when one only wanted to sell. Athens introduced the drachma, a coin that simplified trade in the Aegean Sea. However, as other regions like Sparta minted their own coins, currency exchange became necessary. Money changers, known as trapezites, facilitated this process, eventually leading to the widespread acceptance of the drachma, easing trade complexities.

What was one of the main issues with bartering as a system of trade?

• It was too easy to find trading partners.

• It was too fast and efficient.

• It was difficult to trade when you only wanted to sell.

• It required a common language.

What was the significance of the 'L' symbol on the drachma?

• It represented the weight of the coin.

• It was a symbol of Athens.

• It indicated the coin's value.

• It was a mark of authenticity.

Why did traders need to visit a money changer when trading with Sparta?

• To learn the local language.

• To get a loan for their trade.

• To pay a trading tax.

• To exchange drachmas for local coins.

What role did a trapezite play in ancient trade?

• They were sailors who transported goods.

• They were merchants who sold goods.

• They were officials who regulated trade.

• They were money changers who exchanged currencies.

How did the acceptance of the drachma impact trade?

• It increased the cost of trading.

• It reduced the need for money changers.

• It made trade more complicated.

• It simplified trade by being accepted in many places.