= — Chapter HQ —_—— —Gonors. Briefly review the tends in economic ideas nd the development __of _economfe. thinking —in__the — — — Ancient times. — oP PRES. — Answers History — of _ecanamic__thought concerns. utth dt ferent ____— __thinkers and theories _tn_the _dlecipine of _economécs {rove ——_Oncient__times __to _Contermporany day _ Contemporary — legen ——@re__the __store-house __of__theit__idleas and practices And —__the- history — itself __throw seme lights _on_the economi. motivation oncl__ behaviour _af ancient ___peaple- based On Some __ economic __principles. he _ beginnings _of _the science _of _eranamics —Ond —____ __ economic institutions are traced back. to __Herhew _times— which _ts contained ___in__ the _ old. testfhent__Ondl__covers __the period from __ 2800 8.C. to_150.8.C, Divison _of _labor,_markets exchenge , money etc » _ were the __ fnstitutfons _of those time. beady ~* Aristotle Aristotle was. the frst onatytical econenst and 0 Eee = of ~Sxtraercliner'y briMtonce "who centrfbuted _a-_great —_dea ! ~ te — ethics + economics and. ics AN fo. be —did_—__—§ mi ff tap eg eee et = one fconamict ere quite _sctentific__ond precise The — - Be Peete ht het ict a dh, “is__his treatment of ———— Tn nd—He _oscetbect three functions 10 mnaneyy_ +—rnediom ——__ — Of exch »—_Standard of value _and__store _of value. __— AR Ann Ste dlingutthedbetuseen —valuesi-use ond —vlluetne xchange entiatlt —critteel__tommuntn. —an-—feen hth bod fame So — ae piesa 6 te leash fehchol plata_,and_tnstend of —— mead eet coteereee eaten __. Supported. the + ——hstitution_ tele "s = a ~2—Xenophan eueaes oe eet sb Dap thas a tenner” Greek Philesnpher Tabubis viens agriculture was superior to ail other proffeistons _nd_presperityy ——Of__all_other _ — Nacations was _ directly up —_Uutth the development. E —— fF _agricuiture According to_him, agriculture uses. iver ____ —— fF —aills_things Ond__was easy to learn. andl_pleasant_in_practice = icurus _Wwas on _ancfent Greek philosopher ~_Epfcurus ethics ___Date €é\ 2. [was safc thatthe _mercontitfsts had _fotled to justifiy —— = nme need ete Governmental _ interference for ° ss Baactles geld —ond_siiwer Ben inci wuere__large —nurnbex_of —___—— highly _desirable commodities ina a Snpiione would Seriously, advocate for Goceenment intervention in __order __ a preserve _thore __Cornmeclities ‘A —3.—Even re -ond_stlver__tueve _reqardlecl _as__extreme\y——_—— not be looked up as — incltspensab le erie te tain but not essential for the —— ——gyaath, Maney, the precious metal performed the —fiaportonk-— exchange By al uns eee the —oloctrine f-mercantiitsm —_weutd s fo! as a4 Eafe thn each sm rfs_onel encouraging, —eX fan rye heyf de 1 I fi j AOO% e snomi A i ite d