2. Italian Cities Control Mediterranean trade Goods came from Middle East + Asia  expensive  lots of $$$ Controlled most trade in Southern Europe

3. Hanseatic League Cities/towns of Northern Germany Worked to protect trade on the Baltic and North Seas Aka ‘the League League’

5. Trade Fairs Exotic Products (from far far away) Once a year Merchants selling to Merchants (bulk goods) Local products Everyday needs Average people Permanent Markets

6. Money – valuable, can be exchanged for goods Credit – buying goods with agreement of later payment Banks – business that stores money and makes loans

7. Heavy plow, Watermill and Windmill increase food production  Laborers go to town for work  Increase in workers

8. Free towns develop Not ruled by a lord Grow quickly

9. All workers in a particular trade joined one group Set standards and prices Provides Quality of goods and Protection of craftsmen

10. Apprentice- Child learning a skilled craft, to become a master craftsman Journeyman – apprentice who learned basics, traveled and learned from different masters

11. Capitalism is based on trade and the use of Capital (money for investment) Features of Capitalism Partnerships Joint Stock Companies Banking Insurance