HVII - Economy Flashcards
What was the population at the start of the 15th century?
2.2 million
Why did the profitability of sheep farming increase?
Increasing demand for wool, as the population grew and trade overseas developed
What % of trade was the cloth industry responsible for?
90%
What group limited the trading of merchants?
The Hanseatic league, which controlled trade in Northern Europe
Why did Henry reassert the treaty with the Hanseatic League in 1504 despite it limiting trade?
He had to make sure they wouldn’t support the Earl of Suffolk
Why did Bristol merchants have to look for new fishing grounds in 1495?
The Hanseatic league prevented them from fishing in Icelandic waters
Where did John Cabot discover in 1497
The Newfoundlands
In the 1480’s did wages and prices increase, decrease or remain steady?
Remained steady
Which groups were better off during the 1490’s that they would be at any other time during the Tudor period?
Building workers and agricultural workers
