Economics

• People do not know much about ancient Greek

economy, most likely because Greece was so
remote at the time.
• Greece’s economy flourished from around 776 to
20 B.C.E. in three periods:
o Archaic Period (776-480 B.C.E.)
o Classical Period (480-323 B.C.E.)
o Hellenistic Period (323-30 B.C.E.)
• Greece was very different in each of these
periods, and during these periods Greek values
shaped their economy.
 Farming & Agriculture
• Greece’s economy has always depended on farming
and agriculture.
• Farmers worked on small areas, quickly moving crops
in an attempt to try to maintain the land’s fertility.
• Farmers would terrace rocky hillsides to create as
much crop area as possible.
• Rainfall that was not predictable was the biggest
obstacle for successful farming.
• Farmers grew mostly barley and wheat.
• Barley was the most productive crop for the ancient
Greeks, because of it’s low-demand to produce.
 Farming & Agriculture (cont’d)
• Major cash crops, such as grapes for wine and olives for oil,
were in high demand, and brought to ancient Greece a lot of
money.
• The oil from olives were used in cooking. They also were
bases for soap.
• Since Greek farmers had small areas of land, they had to
raise small animals, such as: sheep, goat, chicken, and pigs.
They did not have enough land to raise cattle.
• Goat and sheep were the most common animals because of
the wool from sheep and the milk from goats.
• Meat came mostly from pigs to make pork.
 Natural Resources and Luxury Goods
• Besides crops such as grain, oil, and wine,
trade was centered on natural resources such
as metals and timber.
• Luxury goods and craft products were also a
centerfold of trade. Items such as jewels,
spices, painted vases and bronze mirrors were
a high luxury and were wanted everywhere in
the world.
 Goods Gained from Trade
• Ancient Greeks received prized goods for all of
their coveted items.
• Goods included natural resources such as iron for
tools, silver for coinage, clay for pottery, marble
for statues, and timber for houses and ships.
• These natural resources were only found in
certain areas because of their scarcity.
• Obtaining silver from trade was a factor in using
silver as a currency, which made trade easier
between more people.
 Trade and its Upbringings
• Trade was not just with objects and goods,
with the Greeks, they got more.
• They inherited architecture, a structure of
writing, and religious beliefs from Egyptian
and Middle Eastern cultures.
• Trade was conducted in the Mediterranean to
the Iranian Peninsula all the way to Egypt.
• Trade brought many different cultures’
luxuries and goods to Ancient Greece.
Ancient Greek Trade Routes