Show Menu

UNIT 2: The Evolution of Markets Cheat Sheet (DRAFT) by

This is a draft cheat sheet. It is a work in progress and is not finished yet.

1. Surplus Product, Trade & Transport Develo­pment

1. Specia­lis­ation lead to people producing a surplus which lead to people trading through money then later money (various forms).
2. Ecentually trade developed between different commun­ities. This meant people and goods needed to be transp­orted and infras­tru­cture such as roads were built.
3. Security became one of the biggest problems for travelling traders. They were attack­ed/­robbed on the way to their destin­ation

A Wagon (First wheel found 3 500 b.c)

2. The Growth of Towns and Cities

1. People had to meet to trade to they establ­ished towns in places farmers and crafters could sell their goods.
Towns usually developed along rivers, river moths, bays (where ships could anchor), cross roads.
2. Govern­ments emerged in these towns. They caused for better city planning and more security
The gov raised taxes to pay for these services.

Specia­lis­ation of Labour and implem­int­ation Guilds

1. Modern­isation of societies and commun­ities created a market for goods that required specia­lis­ation. (E.g. Stonem­asons, Crafters Tailors, Shoe makers etc.)
2. Specia­lists lived closer to the castles where they could get protection from locals.
3. It was suring this time they created guilds which protected them. These Guilds stated the prices and wages as well as managed training of future crafters.
These guilds also owned the tools