Economy and Trade in the Early Middle Ages

<p>They owned land and wealth and dealt with religious matters. (A)</p> Signup and view all the answers

<p>Creation of city councils and municipal governments (C)</p> Signup and view all the answers

<p>Trade and commerce (A)</p> Signup and view all the answers

<p>The Silk Road (D)</p> Signup and view all the answers

<p>They facilitated the collapse of the feudal system. (D)</p> Signup and view all the answers

<p>The fall of the Western Roman Empire (C)</p> Signup and view all the answers

<p>It resulted in uncontrolled violence but also intercultural encounters. (B)</p> Signup and view all the answers

<p>Equality (C)</p> Signup and view all the answers

<p>They acquired higher levels of cultural sophistication. (D)</p> Signup and view all the answers

<p>They facilitated trade by integrating social values. (D)</p> Signup and view all the answers

<p>Poverty was prevalent, but signs of future recovery began to emerge. (C)</p> Signup and view all the answers

<p>The introduction of new goods and awareness of new needs. (D)</p> Signup and view all the answers

<p>Collaboration among different countries. (B)</p> Signup and view all the answers

<p>Congestion in cities and towns (A)</p> Signup and view all the answers

<p>It increased the demand for firewood, causing deforestation (D)</p> Signup and view all the answers

<p>Laborers gained more leverage in setting work conditions (D)</p> Signup and view all the answers

<p>The conquest of Constantinople (D)</p> Signup and view all the answers

<p>Merchants (C)</p> Signup and view all the answers

<p>Agriculture and urbanization coexisted (A)</p> Signup and view all the answers

<p>Divided into social classes with limited mobility (D)</p> Signup and view all the answers

<p>They gained access to more land for grazing (C)</p> Signup and view all the answers

<p>The sale of land by the privileged classes (B)</p> Signup and view all the answers

<p>Higher crop yields due to year-round cultivation (B)</p> Signup and view all the answers

<p>Venice (C)</p> Signup and view all the answers

<p>A strict feudal system with little social mobility (A)</p> Signup and view all the answers

<p>Controlling information and influencing trade (C)</p> Signup and view all the answers

<p>Increase in long-distance trade (A)</p> Signup and view all the answers

<p>Passive investors in trade (C)</p> Signup and view all the answers

<p>Landownership based on inheritance principles (D)</p> Signup and view all the answers

<p>They led to the development of new ships and navigation routes. (B)</p> Signup and view all the answers

<p>The Caribbean (D)</p> Signup and view all the answers

<p>A system based on landownership and military loyalty (A)</p> Signup and view all the answers

<p>Profits shared between partners (B)</p> Signup and view all the answers

<p>They wrote the first economic terms. (C)</p> Signup and view all the answers

<p>They acted as money changers. (C)</p> Signup and view all the answers

<p>The outbreak of the Black Death. (C)</p> Signup and view all the answers

<p>A rise in social awareness and revolutionary sentiments (D)</p> Signup and view all the answers

<p>Manipulating currency exchange rates. (A)</p> Signup and view all the answers

<p>Entrepreneurial spirit and curiosity about the world (B)</p> Signup and view all the answers

<p>Land ownership (C)</p> Signup and view all the answers

<p>Frequent wars and civil conflicts. (C)</p> Signup and view all the answers

<p>It closed major trade routes to the East. (A)</p> Signup and view all the answers

<p>Extremely cold climate affecting crop yields. (A)</p> Signup and view all the answers

<p>Increased population due to rural relocations. (A)</p> Signup and view all the answers

<p>They managed money, made loans, and facilitated trade. (D)</p> Signup and view all the answers

The period of time from the fall of the Western Roman Empire (5th century) to the fall of the Byzantine Empire (15th century), characterized by significant changes in laws, customs, and political and social institutions.

The arrival of barbarian groups from Northeast Europe, causing widespread destruction and violence in the 5th century. However, it also led to cultural exchange and new needs, laying the foundation for future economic development.

The spread of Christianity during the Early Middle Ages, promoting concepts like human dignity, value of work, and equality, which ultimately contributed to the development of trade and commercial relations.

The fundamental principle that all merchants should have equal rights and legal support when setting up a business.

The principle that merchants from different countries should collaborate and cooperate for mutual benefit, rather than competing as enemies. This was promoted by Christianity and encouraged trade development.

Religious institutions like monasteries and abbeys played a vital role in fostering trade by integrating Christian values into society.

The Early Middle Ages were characterized by poverty and violence, but also saw signs of future economic recovery. This was driven by factors like the invasion of the barbarians and the spread of Christianity.

Despite the harsh realities of the Early Middle Ages, the emergence of new needs and values laid the groundwork for future economic growth by promoting trade and commercial activities.

The Church played an influential role in early economic studies, using its knowledge to exert control.

The Church's influence extended beyond academics, as it engaged in commercial activities and supported merchants on trade routes.

The Feudal System was a hierarchical structure organizing society and economics, based on land ownership and military obligations, originating from the need to defend against barbarian invasions.

This system hampered trade by emphasizing inheritance over productivity. Landowners were more focused on maintaining their positions than on improving the land and labor practices.

Despite its weaknesses, the Feudal System created a need for social change by fostering a desire for justice and challenging servility, leading to the emergence of social awareness.

The Crusades were religious wars that stimulated trade and maritime development by re-establishing contact between the West and the East, leading to new trade routes and the emergence of maritime industries.

The Crusades fueled the need for ships and navigation tools, accelerating the development of maritime industries and trade routes.

Land ownership was a privilege restricted to elite classes, but the Crusades inspired some to venture out, driven by entrepreneurial spirit and a thirst for knowledge.

A transformation in landownership where wealthy individuals sold their land to peasants, allowing peasants to become landowners and invest in the market, leading to increased economic activity.

A type of trade where merchants agree to transport goods, sell them in distant markets, and share the profits.

A period of exceptionally mild climate in Europe during the Early Middle Ages, allowing for year-round cultivation, increasing agricultural productivity, and population growth.

The revival of long-distance trade in the Late Middle Ages, fueled by political stability and leading to the establishment of new trade routes across Europe.

Two primary trade routes that emerged in the Late Middle Ages, connecting various regions and fostering trade.

The foundation of the European economy during the Late Middle Ages, where agriculture dominated.

The dominant political system in the Late Middle Ages, where land ownership and power were concentrated among lords who held land and provided protection in exchange for service.

The lack of social mobility in feudal society, where an individual's social status was predetermined by birth and there was little chance of moving up or down the social ladder.

In the 15th century, merchants rose to prominence as trade flourished, dictating trade rules and standards for civil life.

Cities became centers for trade, leading to the growth and development of major cities like Venice, Paris, and London.

The rise of urban society during the Modern Era marked a shift in emphasis away from agriculture, but not its complete replacement.

Despite growing prosperity, society remained rigidly divided based on social class, with no opportunity for social mobility.

A drop in production led to low demand for products and a scarcity of labor. This gave peasants the power to negotiate better work conditions.

Laborers gained liberation from serfdom, having access to more land and improved nutrition.

The conquest of Constantinople (1453) is considered the beginning of the Modern Era, while the French Revolution (1789) marked its end.

Medieval practices continued to evolve during the Modern Era, demonstrating a gradual transition instead of a complete break.

The three social orders of the Middle Ages, each with distinct duties and social standing: Lords (responsible for order), Clergy (religious and secular roles), and Peasants (land workers).

The revival of urban life in the Middle Ages, triggered by population growth and agricultural advancements that drove peasants to cities for new opportunities.

The economic and social system of the Middle Ages, based on land ownership and the exchange of services for protection, where Lords granted land to vassals in exchange for loyalty.

The formation of organized groups by merchants in the Middle Ages, aimed at protecting their interests, resolving disputes, and establishing municipal governments.

A vital maritime trade route in the Middle Ages, linking Italy with the East. Its strategic location and the presence of skilled merchants and seafaring technology made it highly profitable.

A renowned land trade route connecting China to the Mongol Empire in the Middle Ages, facilitating the exchange of goods and cultural ideas.

The process by which the feudal system declined in the Middle Ages, due to the rise of urban trade, the growth of merchant power, and the emergence of municipal governments.

The influence and impact of trade on the development of urban centers in the Middle Ages, including the growth of population, the expansion of economic activities, and the weakening of the feudal system.

The deadliest pandemic in human history that ravaged Europe in the 14th century, causing widespread death and disrupting the medieval economy. It was exacerbated by a lack of medical advancements and proper hygiene practices.

This refers to several violent conflicts that plagued the medieval era, both within and between countries like the Hundred Years' War between France and England. These wars led to death and destruction and affected trade and the economy.

The fall of the Byzantine Empire to the Ottoman Turks in the 15th century, a pivotal event that closed off the trade route to the East through Eastern Europe, hindering commercial exchange.

A period of extreme coldness that heavily impacted the medieval economy, leading to crop failures and food shortages. This resulted in increased prices for agricultural products and decreased wages.

The growth of cities and towns in the medieval period, leading to overcrowding and strain on resources. This was partly due to migrations from areas with good weather conditions, further contributing to the economic challenges of the time.

Early financiers who were crucial to medieval trade. They exchanged currencies, provided loans, and managed finances for merchants. They became skilled bankers, but their practices sometimes drew criticism from religious authorities.

The foundation of modern banking, originating in Genoa and Venice during the medieval era. These banks managed deposits, offered loans, and facilitated transactions.

The period starting in the 14th century which saw multiple challenges that affected the medieval economy. These included the Black Death, wars, the fall of the Byzantine Empire, extreme cold, and congestion in cities. They had a lasting impact on economic growth.