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Historic Economic Practices in Antiquity

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Barter system

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Used by many ancient civilizations like the Sumerians, trading goods and services without using a standardized currency. Goods like grain, cattle, and crafted items were directly exchanged.

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Minting coins

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Originated with the Lydians, around 600 BCE, among the first to use a standardized precious metal currency which increased trade efficiency.

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Potlatch

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A ceremonial feast used by the indigenous peoples of the Pacific Northwest Coast of America; wealth was redistributed and social status was asserted by giving possessions to the community.

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Feudalism

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Medieval Europe's economic system where land was the main currency, with lords granting land to vassals in exchange for military service.

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Tribute system

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Practiced by the Aztec civilization; subjugated people and nations were required to provide periodic payments of goods and labor.

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Corvée labor

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Used in ancient Egypt, a system where the public must provide unpaid labor to the state for public works such as the construction of dikes and temples.

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Silk Road commerce

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An ancient network of trade routes connecting China and the Far East with territories in the Middle East and Europe, facilitating not just trade but also cultural exchange.

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Cuneiform receipts

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Used in ancient Mesopotamia, one of the earliest forms of writing on clay tablets that documented transactions.

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Incan mit'a

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A mandatory public service system in the Inca Empire that required all able-bodied citizens to work for the state a certain number of days each year.

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Crop rotation

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Agrarian practice to maintain soil fertility, used in ancient Roman agriculture to increase long-term yields.

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Usufruct rights

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A practice in ancient Rome allowing individuals to use and enjoy the profits from land that they do not own, as long as the land is not damaged.

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Water clock (Clepsydra)

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Used by various ancient civilizations including the Greeks, a time-measuring device that determined labor and trade periods using the flow of water.

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