Economics 21 Flashcards
0
Q
How did the markets of Western Europe encourage specialization?
A
People with a surplus of crops take their specialty to many towns and cities to trade their specialized items to receive other things they need or to create a lower opportunity cost.
1
Q
What led to the growth of markets in Western Europe?
A
Improvements in agriculture. (Gave many a surplus of crops.)
•opportunity to sell crops and specialize in one product
2
Q
How did the growth of markets in Western Europe cities lead to the transition from a batter economy to a money based economy?
A
When markets were spread among Western European cities, money was used to pay for all goods. The money that was used to pay for goods influenced the government to switch because of the importance of money.
