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Economy of Ancient Rome Economy of Ancient Rome https://www.unrv.com/economy https://www.historylearningsite.co.uk/ Sources https://study.com/academy/lesson/ 1. A Simple Yet Powerful Economy Features of the economy of ancient Rome 2. the Roman economy was largely agrarian, centered on the trading of commodities such as grain and wine. 3. Agriculture and trade dominated Roman economic fortunes, only supplemented by small scale industrial production. 1. basic gold monetary unit of ancient Rome and features of currency in ancient Rome the Roman world. It was first named nummus aureus (“gold money”) 2. was equal to 25 silver denarii 3. replaced the bronze as a unit of account. EXPORTS 1. Grapes, oil, and grain were a few of the major Products and natural resources ancient Rome exports traded (extra items they had to trade away) 2. Other exports included pottery and papyrus (paper) 3. olive oil, wine, and cereals were also made and exported 1. beef, corn, glassware, iron, lead, leather, marble, olive oil, perfumes, purple dye, silk, silver, IMPORTS spices, timber, tin and wine. Products and natural resources ancient Rome traded for (items they needed from other 2. main trading partners were in Spain, France, regions) the Middle East and North Africa. 3. British traders relied on the Romans to provide security within the Empire 1. Goods were transported across the Roman Barriers to trade in ancient Rome (what made it world but there were limitations caused by a lack hard to trade) of land transport innovation. 2. much cheaper to transport goods by sea rather than by river or land Benefits of trade for ancient Rome 1. Trade made Rome very wealthy 2. better quality of life with various food items and luxuries. 1. an over-dependence on agriculture. Drawbacks of trade for ancient Rome 2. a slow diffusion of technology. 3. a low level of investment in industry. Comprehension Questions Use the information you have collected to answer the questions below. 1. How did job specialization (people having different jobs) benefit the Roman economy? By making it easier because they could have more than enough stuff 2. How did ancient Rome use currency? What was the effect on international trade? Rome use their currency in trade with other places Using international trade made they easier so Rome did not have to make more 3. Why did ancient Rome begin to trade more with other regions? They began to trade so help their economy grow 4. How did taxation benefit ancient Rome? By creating tax, it helped Rome save money 5. How did the growth of trade change Roman society? The Romans traded goods throughout their Empire. By importing goods from other countries they raised their standard of living and were able to have many luxuries. The Romans used their network of roads and also waterways to transport goods from one country to another. Cost-Benefit Analysis Read the scenario carefully. Think about what the event will cost the ancient Romans and consider how the event could benefit the ancient Roman economy. Answer the questions that follow. Scenario: During the Roman Republic, citizens of the city of Rome received a grain distribution. The government provided free or reduced- priced grain each month. The numbers of those receiving free or reduced-priced grain expanded to an estimated 320,000 people. Much of the grain came from Egypt, Africa, and Spain. However, as the population of the city of Rome grew, grain distribution became more costly, and it was difficult to transport so much grain. Caesar Augustus is considering decreasing the number of citizens receiving the grain distribution. You are a member of the Senate. How would you advise Augustus? 1. Describe the costs of the grain distribution in ancient Rome. In other words, what were the drawbacks of the grain distribution? Egypt, northern Africa, and Sicily were the principal sources of grain to feed the population of Rome, estimated at one million people at its peak. 2. Describe the benefits of the grain distribution in ancient Rome. In other words, what were the positive outcomes of the grain distribution? Grains, especially baked into bread, were the staple of the Roman diet, providing 70 to 80 percent of the calories in an average diet. Barley was also grown extensively, dominating grain production in Greece and on poorer soils where it was more productive than wheat. Based on your understanding of the ancient Roman economy, state whether the reducing grain distribution would be positive or negative for the ancient Roman economy. How would you advise Augustus? Give two reasons for your answer. I would trade for more grain, so everyone got enough and no one would go without would .
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