Which statement best describes the economic system of ancient Egypt? – Egyptians decided on the value of items they traded with other people. – The economic system relied heavily on gold coins made by the pharaoh. – The pharaoh controlled trading and was the only person who could make trades.
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What was the economic system of ancient Egypt?
Ancient Egypt was located on the Nile River and had some of the most fertile land in the ancient world. Ancient Egyptians grew many crops, and because coins and paper money had not yet been invented, their economy depended on using their goods, mostly crops including grain, in a bartering system.
Which best describes why ancient Egypt would be described as a command economy?
Which best describes why ancient Egypt could be described as a command economy? The pharaoh allowed the people to decide which goods and services to provide. The pharaoh and central government controlled economic decisions. The people used a system of bartering rather than selling goods for money.
What was the primary economic activity in ancient Egypt?
Agriculture was the foundation of the ancient Egyptian economy and vital to the lives of the people of the land.
What caused the economic surplus in Egypt?
Farming and fishing
Agriculture created most of Egypt’s wealth. Grain, vegetables, fruit, cattle, goats, pigs and fowl were grown, and fish from the Nile were caught, and eventual surpluses, after deduction of the various taxes, were sold on the markets. Thanks to the yearly inundations the soil remained fertile.
How was ancient Mesopotamia’s economic system different from ancient Egypt’s economic system?
How was ancient Mesopotamia’s economic system different from ancient Egypt’s economic system? It did not rely on government bureaucrats.Egypt had a command economy.
Which statement best describes a command economy?
Which statement best describes a command economy? Government intervention in economic choices is strictly forbidden. The government determines economic choices and makes most decisions. The decisions made by producers and consumers drive all economic choices.
What statement best describes why economies must make these decisions?
What statement best describes why economies must make these decisions? Economies must make these decisions because resources are unlimited, but production must be limited.
Which statement best describes land ownership in ancient Egypt?
Which statement best describes land ownership in ancient Egypt? The pharaoh owned all the land in ancient Egypt. The pharaoh gave grants of land to Egyptian nobles.
How does the ancient Egyptian irrigation system work?
Egyptians developed and utilized a form of water management known as basin irrigation. This practice allowed them to control the rise and fall of the river to best suit their agricultural needs. A crisscross network of earthen walls was formed in a field of crops that would be flooded by the river.
Was Egypt a command economy?
Egypt has been a socialist country, with a centrally planned economy, for the last sixteen years. Egypt’s transition to a socialist state was accelerated after 1961 , when the “Socialist Laws” were enacted, nationalizing most of the economic activities in the country.
How was Mesopotamia’s geography different from Egypt’s?
The main difference between Mesopotamia and Egypt is that Mesopotamia was located between the Tigris and Euphrates Rivers in the Fertile Crescent, while Egypt is located on the banks of the river Nile. Mesopotamia and Egypt are two of the earliest ancient civilizations based on rivers.
How is Ancient Egypt different from ancient Mesopotamia?
Egypt developed around the Nile River, while Mesopotamia developed between the Tigris and Euphrates rivers.Politically, both Egypt and Mesopotamia had a government with one main ruler, but Egypt had a centralized government with a pharaoh, while Mesopotamia had a decentralized government with a king.
How did the Egyptian writing system compare with the Mesopotamian system?
the Egyptians believe their Kings would rule the land after death.How did the Egyptian writing system compare with the Mesopotamian system. Sumerian cuneiform writing system is early form of hieroglyphic writing system picture stand for an idea than hieroglyphic changed so that picture stood for sound as well idea.
Which statement best describes a pure economy?
The decisions made by producers and consumers drive all economic choices best describes pure market economy.
What is the best definition of economic data?
Economic data is the information used for calculation, analysis, or planning.
Which statement best describes the difference between a market economy and a command economy?
The major difference between a command economy and a market economy is that a command economy the government controls what is produced and how it will be shared and in a market economy people have more freedom and can make their own decisions.
Why does an economy have to first answer the economic question of what to produce?
These questions are unavoidable in that they MUST be answered. The first question is What to produce? Since resources are scarce, a society must determine which goods it will produce and in what quantities.
What are the three choices that all economies must make?
The three basic decisions made by all economies are what to produce, how it is produced, and who consumes it.
Which statement best describes the impact of scarcity?
The best way to describe the impact of scarcity would be when consumers must pay for higher prices for many items. This is a situation where there are unlimited wants have fully exceeded all of the limited resources.
Which statement best describes the New Kingdom’s economy during the reign of Queen Hatshepsut?
Which statement best describes the New Kingdom’s economy during the reign of Queen Hatshepsut? The economy of the New Kingdom suffered under Queen Hatshepsut. Egypt’s economy prospered with increased trade and public works projects. Egyptians were taxed so heavily that they lived in poverty.
