0
The development of coined money revolutionized trade by providing a standardized medium of exchange, which simplified transactions and eliminated the inefficiencies of barter systems. It facilitated greater economic interaction by enabling easier valuation of goods and services, allowing for more complex trade agreements. Additionally, coined money supported the growth of markets and commerce, as it could be transported easily and stored securely, ultimately leading to more extensive trade networks and economic expansion.
What else can I help you with?
A developed after the Lydians introduced coined money to use in trade?
a large scale economy
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
What did the Phoenicians do to make trade easier?
They had a fleet of armed vessels to conduct the trade, and established trading depots in the areas of interest.
What is the name of the place where money is coined?
The place where money is coined is called a mint. Mints are facilities that produce coins, as well as sometimes producing paper currency and other forms of money. They ensure that the currency meets specific standards for weight, size, and design, which are crucial for its acceptance in trade.
How does fair trade help sustainable development?
fair trade helps sustainable development by giving the poor people much more money
What land of the people who introduced coined money as a medium of exchange in trade?
Coins came into use about the same time in Asia minor (present-day Turkey) and in China.
What Land of the people introduced coined money as a medium of exchange in trade?
Indus valley civilization according to history tells about that India is the first country to issue coins for trading.
Did the shawnee use any form of money?
No the Shawnee didn't have a form of money they would only trade skin or food or more thinks to change to trade.
What were the advantages for Athens' of coined money?
One of the advantages is that trade became easier . After switching from the barter system to do this trade was a lot simpler. Around 570 B.C they switched to coins . The Government made the coins. People were willing trade their goods for coins. Coins could also buy anything.
How has trade change people lives?
Fair trade has changed the lives of people in the third wold by giving them money from the products they produce. I hope this helps.
When money was invented was trade simpler true or false?
True. When money was invented, trade became simpler because it provided a standardized medium of exchange, eliminating the inefficiencies of barter systems, where goods had to be directly exchanged. Money allowed for easier pricing, saving, and investment, facilitating more complex and widespread economic transactions. This innovation streamlined trade and contributed to the development of economies.
What is trade in the economy?
A trade in a economy is what they trade for money.
