ECON 2720 Midterm: Business History Midterm Review
16 Apr 2018
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Discuss the transition from the bronze age to the iron age. Discuss what we know or can infer about prices and costs. During the bronze age, international trade was necessary as the greeks needed to import tin in order to combine with copper in order to create bronze. There was a trade route from afghanistan to greece. At first, tin was an expensive, but as it became the standard of farming, the amount of tin imported was so high that the price fell. However around 1300 bc, the trading routes for tin were disrupted, thus raising the price of both tin and bronze, thus creating a substitute for bronze: iron. This transition was much like the transition from coal to oil. My notes say china did the same thing. Idk about industrial revolution. (2) discuss in detail the role of the phoenicians in the early iron age. The phoenicians were the like the walmart of the olden days.
