Elizabeth Economics And Management

Question 1

Debts from Mary

Answer 1

1. Elizabeth inherited a debt of £227,00 this was caused due war with France Elizabeth had to pay 14% interest on the loan

Question 2

The role of Thomas gresham

Answer 2

1. Debssment of the coinage
2. He argued Elizabeth needed good credit score in order for loans to be raised

Question 3

Source of crown income and fiances

Answer 3

1.crown lands = Elizabeth had increased from £86,000 to £11,000 she did rely on short term loans.

2. Parliamentary taxation = there two forms fithteenths and tenths which rasied £30,000 and subsidy broought in £100,000

Question 4

Financial problems: inflation war, administration and monopolies

Answer 4

1. Inflation = had increased in the 1560’s meant higher food prices blamed on bullion supplies big problem as it meant Elizabeth could not increase income she tried recoinge
2. Impact of war =war in neatherlands cost £2million, Tyrone rebellion cost £2million

Question 5

Overseas trade

Answer 5

1. Muscovy company = woolen goods were sold to Russia and fur hides and tar was brought back
2. The slave trade done by john Hawkins he sailed guinea where 300 slaves were obtained these were sold and profits were large
3. European trade was hit by Dutch revolt, Spain claimed monopoly on slave trade