Economics - the 2nd letter in P.E.G.S.
Economics is the 2nd part of PEGS, because of how the government was run the Economy changed and grew. New ways that were very useful were created and developed.
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In the Ancient Greek government people had to pay taxes, before this people would just give things like jewelry and trade items.
But, obviously carrying large things like that to pay for things would be pretty hard.
So, as a solution to this problem the Government created a currency so that people could pay for things like taxes , and other necessities
Government made different types of currency.
But, obviously carrying large things like that to pay for things would be pretty hard.
So, as a solution to this problem the Government created a currency so that people could pay for things like taxes , and other necessities
Government made different types of currency.
- Obols- lowest coin in currency 6 obols = 1 drachm
- Drachm - More valuable than Obols , 100 drachms = 1 mine
- Mine - Second highest coin value in Ancient Greece currency 600 Mines = 1 talent
- Talent- Highest form of currency, 1 Talent is equal to 56 pounds of silver.