Chapter 10 Flashcards
What were the four reasons that trade was lacking in Medieval Europe?
(1) Travel was dangerous
(2) Lack of money
(3) Trade with East was down
(4) Towns were weak
What is the exchange of goods for goods (trading)?
barter
What were the three principal routes by which the traders from the orient reached the Mediterranean?
The southern route (entirely water);
the central route (combined land and water);
the northern route, aka the “Silk Road” (an overland route across central Asia connecting Beijing and Constantinople)
What was the important trade city of France?
Flandere
What was the important trade city of Italy?
Venice
A _____ is a place of local trade.
Market
A _____ is a place of foreign trade.
Trade Fair
What was the most famous trade fair?
Champagne (France)
Who were the people who judged the approximate value of coins, discovering counterfeit currency, and determining one currency’s value in relation to another?
moneychangers
List some things that money changers did (other than change money)
- judge value of money
- guard money
- lend money
During the early Middle Ages, _____ merchants had dominated trade in the Mediterranean region.
Muslim
What was Flandere’s product?
Cloth
A “letter of credit” is most close to our modern _____.
Check
What Italian word do we get our word “bank” from?
“banca”
What does “banca” mean?
“bench”
How did the Markets and Trade fairs influence the Church.
They started to take peoples interest
What is usury?
The practice of charging interest for the use of lent money
MOD T/F: The church PROMOTED usury.
False (prohibited)
The church advocated a “_____ _____” for goods sold- a price for labor expended, and a reasonable profit.
“just price”
The privileges granted a town bu a feudal lord were usually written down in a legal document called a _____.
charter
What were the four basic freedoms that most townsmen shared?
Free Status
Exemption from Manorial Obligations
Town Justice
Commercial Privileges
Briefly explain Free Status.
No matter what his previous status, a man who lived in a town for a year and a day was considered free.
Briefly explain the Exemption from Manorial Obligations.
Town charters usually exempted townsmen from laboring for the lord of the manor. Payment (usually in cash form) was given to the lord instead of laboring for him.
Briefly explain town justice.
Instead of being tried in a feudal court and judged by feudal customs, a feudal townsman was tried in the court of his town and was judged by town people and town customs.
Briefly explain commercial privileges.
The chief commercial freedom granted to townsmen was the right to buy and sell freely in the town market.
The primary function of a _____ was to regulate the business activity of a given town.
Guilds
What was the primary function of a guild?
To regulate the business activity of a given town.
____ provided aide to members in need. They established schools and cared for the poor, widows, and orphans.
Guilds
MOD T/F: GUILDS were groups of businesses of the same craft/trade that helped each other out.
True
What are the 3 classes of members in each craft guild?
Apprentice
Journeyman
Master
A young boy began his training as a/an _____ (a guild class).
Apprentice
About how long was an apprenticeship?
2-7 years
At the end of his apprenticeship, the young man became a/an _____. He could then seek employment and earn wages as a skilled worker.
Journeyman
To become a/an _____, a man had to have years of experience, funds to open a shop, as well as undergo an examination, present an example of his workmanship (masterpiece), and take an oath to conduct himself according to the regulations of the guild.
Master
