Directions: Read the passage given below carefully and then answer the question given below the passage.

As long as someone has been making, supplying, and distributing goods or services, there has been some sort of economy; economies grew larger as societies grew and became more complex. Sumer (An earliest known civilization) developed a large-scale economy based on commodity money while the Babylonians and their neighboring city-states later developed the earliest system of economics as we think of, in terms of rules/laws on debt, legal contracts, and law codes relating to business practices, and private property. The Babylonians and their city-state neighbors have developed forms of economics comparable to currently used civil society (law) concepts. They developed the first known codified legal and administrative systems, complete with courts, jails, and government records.

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