Describe the economic changes that Europe experienced in the late Middle Ages. Who were some of the most prominent commercial and banking figures of the period? What areas were involved in cloth production?
What will be an ideal response?
Ans: Mention should be made of the importance of banking and the careers of Jacques Coeur, the Medicis, and the Fugger family. Essays should include that the cloth trade involved many countries; fine wool was produced in England and Spain and turned into cloth in both urban and rural areas (the putting-out system should be mentioned), and it was traded everywhere.
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