What best describes the economy of ancient Egypt?
the answer is c. it was a traditional economy.
Was ancient Egypt a traditional economy?
Ancient Egypt was a country rich in many natural resources but still was not self-sufficient and so had to rely on trade for necessary goods and luxuries. Trade began in the Predynastic Period in Egypt (c. For most of its history, ancient Egypt’s economy operated on a barter system without cash.
What was the basis of economy of Egyptian civilization?
Agriculture was the main reason behind Egypt’s wealth, many grains, vegetables, fruits, cattle, and fish were harvested and gathered and after the deduction of various taxes, the goods were sold in the market.
Was ancient Egypt a command economy?
The economy of pharaonic Egypt has been called an ancient command economy, but one should always remember that such modern definitions are not as apt as one would hope for. [2] Still, there was a specialized bureaucracy which monitored or controlled much of its activity, one of the hallmarks of planned economies.
Did ancient Egypt have currency?
Egyptians used gold currency The earliest money that we know about was made of pure gold and dates back to the 3rd millennium BC in Egypt. The gold had standardised weights and values. The unit used for measuring the currency was called shat and was the equivalent of 7,5 grammes of gold.
What was the main industry in Egypt?
| Economic Trivia | Egypt’s economy relies mainly on agriculture, media, petroleum imports, natural gas, and tourism. |
|---|---|
| Top Industries | Textiles; Food Processing; Tourism; Chemicals |
How did the Egyptian civilization end?
The last ruler of Ptolemaic Egypt–the legendary Cleopatra VII–surrendered Egypt to the armies of Octavian (later Augustus) in 31 B.C. Six centuries of Roman rule followed, during which Christianity became the official religion of Rome and the Roman Empire’s provinces (including Egypt).
What are the main features of Egyptian civilization?
The many achievements of the ancient Egyptians include the quarrying, surveying and construction techniques that supported the building of monumental pyramids, temples, and obelisks; a system of mathematics, a practical and effective system of medicine, irrigation systems and agricultural production techniques, the …
Who did Egypt Trade with?
Egypt’s most important trading partners include China, the United States, Italy, Germany, and the Gulf Arab countries. Egypt: Major export destinations Encyclopædia Britannica, Inc.
Why is the Egyptian civilization important?
Overview. Egyptian civilization developed along the Nile River in large part because the river’s annual flooding ensured reliable, rich soil for growing crops. Repeated struggles for political control of Egypt showed the importance of the region’s agricultural production and economic resources.
What did Egyptian use for money?
Egyptians used gold currency The unit used for measuring the currency was called shat and was the equivalent of 7,5 grammes of gold. One deben was worth 12 shat and was the same as 90 grammes.
