HVII Eeconomic development Flashcards
England was largely a country of what trade (what percentage)
Largely agricultural country 90% lived and worked on land
What was the most significant economic developments?
Growth of industry and expansion of trade
3 most important industries in the 16th century
Cloth, coal and iron
What was the biggest industry?
Cloth industry which was by the far biggest in the kingdom and coal and iron industries were very small in comparison. Was closely linked to agriculture as it relied on the supply of wool
Where did the cloth mostly get exported to?
City of Antwerp in Netherlands
The trade was very significant and H used it as an economic weapon but how?
To encourage Duke of Burgundy to cease his support for Perkin Warbeck
How did the cloth industry help the Uk?
Provided prosperity cir growing market towns and villlages in East Anglia and parts of Yorkshire
Henry’s recognised early the importance of flourishing trade was important to a healthy economy and d=strengthen the throne. What did he do to influence this?
The navigation acts. (1485-85) that were passed in an attempt to encourage English readers and break up monopoly enjoyed by the Hanseatic league.
What merchant company did Henry support and what did it control?
Merchant adventurers which was a trading company that controlled the export and sale of English cloth
What treaty in what year allowed Henry to trade in the meditteranian
Florence in 1490
Who was Henry keen to flowing in overseas exploration and he was patronised by who?
Spain and he was patronised by John and Sebastian Cabot who said led to North America to explore and claim new lands for the King of England
What was Greenland rich in?
Fish
What other sea route was he tasked with getting to participate in what?
Sea route to reach Asia in order to participate in the Spice trade
How successful was exploration?
Exploration was extremely unsuccessful as little was achieved and he was more interested in Europe than further afield had American mainland where not explored and newly discovered fishing grounds in Atlantic were not exploited
What did the expansion of trade in the Mediterranean and Baltic
Contributed to significant growth in England’s economy and this led to increasing wealth and prosperity
