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Medieval Business and Commerce
Transcript of Medieval Business and Commerce
Money in the middle ages were used as a currency in the form of metal coins. The most valuable coins were gold and silver.
There were many types of coins varying from size and inscriptions but increased trading led to the standardizing of coins. Order of business Business would follow certain laws and keep contracts between other businesses to keep the economy balanced. The bill of exchange was one of the most common parts of keeping the economy balanced. It was a document that was given to a merchant by a banker. With the document the merchant was able to travel and exchange it for real money. Crusades Crusaders help expand trade between European and eastern and western countries.
Increased trade led to the mixing of different cultures.
The crusaders exposed the traders to Arabic art, architecture, medicine and mathematics. What they traded ... Eastern countries brought spices, jewels and other rare things in exchange for wool and precious metals.
Towns would have "Trade Fairs" which were held about twice a year to attract foreign merchants.
Jugglers and entertainers performed to attract customers as they shopped around.
These fairs could last for several days. Guilds Guilds were formed to ensure the protection for the merchants and make trading safer. They were formed because of the excessive taxing on by the lords and landowners.
Guilds would help members that were sick, or in trouble, and would sometimes take care of families after the member died.
Standards like weights and measures evolved from the guilds, and searchers would inspect shops to ensure rules were being followed. Apprenticeship
After completing an apprenticeship, the appropriate guild would examine his work and see if he could be elevated to journeyman status.
A journeyman would journey from town to town to learn more about the trade.
Journeymen were required to create a "masterpiece" and would be judge and elevated to master status... At this point, the journeyman would place his hand on a Bible and swear allegiance to the guild and his craft. Apprenticeship was how most people got involved in the trading business. Sources "Business and Commerce ." Medieval Life. N.p., n.d. Web. 17 Mar. 2013. <http://www.medieval-life.net/commerce.htm>.
"Medieval Europe Business and Commerce by Margy Shah on Prezi." Prezi - Ideas matter.. N.p., n.d. Web. 17 Mar. 2013. <http://prezi.com/kz92j5wfubq_/medieval-europe-business-and-commerce/>.
"Medieval Europe Business and Commerce by Margy Shah on Prezi." Prezi - Ideas matter.. N.p., n.d. Web. 19 Mar. 2013. <http://prezi.com/kz92j5wfubq_/medieval-europe-business-and-commerce/>.