Which country gained a monopoly on Mediterranean trade?

Answer:

Italy

What area was the marketplace of northern Europe?

Answer:

Flanders

Discuss both markets and fairs

Answer:

see pg. 228

moneychangers

Answer:

grew in importance because they had experience in judging the approximate value of coins, discovering counterfeit currency, and determining one currency's value in relation to another - all for a fee

Discuss how the Roman Church viewed economic activity.

Answer:

They sought to place restraints on business to prevent greed and the hoarding of wealth. They believed that man had a particular place in society and was expected to work for the common good of society. They also believed that if a man received a profit greater than his needs, he was expected to give it to charity.

"just price" for goods sold

Answer:

a price that included the cost of materials, a fair return for labor expended, and a reasonable profit

What economic principles were brought about due to changes in business practices and a revival of trade?

Answer:

dignity of labor, the legitimacy of profit, freedom of exchange, and individual responsibility

What factors contributed to the growth of towns in Europe during the Middle Ages?

Answer:

increased agricultural production (due to better farming methods), a revival of trade, and increased population (due to an increased food supply)

town charter

Answer:

document that outlined the rights and freedoms of the townspeople that were granted by the feudal lord

Essay - discuss the shared basic freedoms (free status and town justice) that were usually part of most town charters

Answer:

see page 232 - list and give details about free status and town justice