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Developed after the Lydians introduced coined money to use in trade?
The Lydians introduced coined money as a means ofexchange, thus creating a money economy, an economic system based onmoney exchange rather than barter
Who created coined money in the ancient middle east?
The Lydians introduced the coined money, as means of exchange thus creating a money economy
Who developed a money economy the Phoenicians or the lydians?
Lydians
Where and when was coined money invented?
The Lydians created coined money because they were old fasion time users.
What are the lydians known for?
The Lydians are known for being the first to use real coinage money.
The most important contribution of the Lydians to history was .?
The use of coined money.
What is the name of the land of the people who introduced coined money as a medium exchange in trade?
The land of the people who introduced coined money as a medium of exchange in trade is Lydia, an ancient kingdom located in what is now western Turkey. The Lydians are credited with minting the first known coins around the 7th century BCE, using electrum, a naturally occurring alloy of gold and silver. This innovation significantly influenced trade practices and the economy in the ancient world.
When was money first money?
Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins.
Who introduced money to the world?
Money, as a concept, was not introduced by a single individual but evolved over time through various societies. The earliest forms of money were likely commodity money, such as shells or livestock, used for trade. The first standardized coins are believed to have been created by the Lydians in the 7th century BCE. Over time, different cultures developed their own forms of currency, leading to the diverse monetary systems we see today.
What did the lydians do?
they made money out of silver and gold.
Where was money first used?
Money was first used by the Phoenicians.
Did the lydians developed a money economy because the barter system was limited?
Yes because it made trading for the goods and services you needed much simpler than bartering
