The Economy Flashcards
What affected the lives of the ordinary people?
Rise in inflation
Rise in population
How did the eonomy change?
Search for new markets
New countries to trade with
Give some examples of inflation after 1500
Rent rose
Grain and meat prices doubled between 1510 and 1530
Poor harvests of 15202
Debasement of the coinage became frequent in the 15402 when Henry was trying to raise money for war with Frane and Scotland
The reformation ontributed as gold from monasteries was melted down to turn to coinage
How did agriculture become more profitable?
New crops such as clover and lucene were grown for animal feed
Rotation introduced
Industrial crops such as saffron, wood and rapeseed grown for industrial processes
Improvements made to breeding cattle and sheep
Enclosure saw the increase of medium sized farms. This meant intensive more profitable cultivation
How did industry develop?
A surplus poulation meant that the were more people to work in industry
The metal and oal industries increased production
Cloth was the most important industry in England
Who were the merchant adventurers?
Gave large loans to the crown
Traded in Antwerp
Henry wante dto increase trade at the expense of the Hanseatic League
