The Economy

Question 1

What did 90% of the Tudor population do?

Answer 1

Arable and pastural farming

Question 2

What were the 3 main industries?

Answer 2

cloth, coal and iron

Question 3

Which was the biggest industry?

Answer 3

cloth - closely linked to agriculture because f the supply of wool

Question 4

Where was cloth exported to?

Answer 4

Antwerp - The Netherlands

Question 5

How did Henry use cloth as an economic weapon?

Answer 5

Used a threat to stop trade to encourage the Duke of Burgundy to stop his support for the Duke of Burgundy

Question 6

In what ways did Henry VII value trade?

Answer 6

Used it to strengthen his grip on the throne
He believed wealth through trade would secure the dynasty
Used it to expand trade abroad
Used it s a reason to build a merchant fleet
Passed the Navigation Acts 1485 to promote British trade and break up the Hanseatic League
Supported the Merchant Adventurers - a trading company to control the sale of British cloth

Question 7

What was the impact of Henry’s initiatives to encourage trade?

Answer 7

London grew in importance as a centre of commerce
Links with Antwerp were strengthened
The revenue from customs duties and taxes led Henry to insert a clause on trade in every treaty he signed with other countries

Question 8

How did Henry boost trade through treaties?

Answer 8

1490 Treaty with Florence - clause enabled Brit merchants to trade in the mediteranean

Question 9

What country did Henry want to emulate to encourage overseas expansion?

Answer 9

Spain

Question 10

Which adventurers did he patronise?

Answer 10

John and Sebastian Cabot - sailed to America to find new lands for henry
Tasked with discovering a sea rout to reach Asia to participate in the spice trade

Question 11

Was exploration under Henry a success?

Answer 11

No
The American minland was not explored
Newly found fishing grounds in the Atlantic were not exploited

Question 12

Were there any periods of contraction and depression

Answer 12

Yes
In 1493 Henry issued a trade embargo against the Netherlands because they supprted Perkin Warbeck
This led to depression in the cloth industry
Prosperity only returned when he signed the Intercursus Magnnus in 1496

Question 13

When were periods of Harvest failure?

Answer 13

The 1590s was one of the worst periods of harvest failure and starvation