CONTENT STATEMENT
- The growth of cities and empires fostered the growth of markets. Market exchanges encouraged specialization and the transition from barter to monetary economies.
CONTENT ELABORATION
Markets grew with the development of cities and empires. The increased demand of goods and services by larger populations led to the growth of markets.
Consequently, growth of markets encouraged specialization and advanced a more efficient system for the exchanges of goods and services. The barter system limited market exchanges, so standardized money-based systems were created.
EXPECTATIONS FOR LEARNING
Explain how the growth of cities and empires fostered the growth of markets.
Describe how market exchanges encouraged specialization and the transition from barter to monetary economies.