Trade and Economy Flashcards
1
Q
what was the economic slump?
A
- between 1440 and 1480
- worsened by political instability
- international trade effected by piracy and trade agreements
- economy recovered due to Edwards policies and support of merchants
2
Q
what were guilds?
A
- english merchants were usually part associations of craftsmen or merchants in the same trade
- guilds like goldsmiths company, grocers company and merchant adventurers company
3
Q
what was the wool trade like in Britain?
A
- english wool of superior quality
- didn’t decline in 1459 with civil war like other trades
- wool exports at lowest
4
Q
what did wool prices fall to between 1459/62
A
8000 sacks p/a to 5000
5
Q
in 1465/69 what did wool exports rise to?
A
9000 sacks p/a
