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Economic ups and downs in the 16th century
Before the 16th century the unfavourable conditions
Large territories with many different kingdoms.
Not much infrastructure.
Very little international relations or trade.
Temporary armies.
Too many wars.
Taxe approved first by a court or a parliament
Primitive agriculture practices, and a limited range of food types.
A subsistence economy predominated.
During the 16th century
Three strong royal powers
Spain
France
England
The New World opened up new trading relationship between different countries.
Succession of wars.
Taxe were imposed directly by strong monarchs.
Food types increased.
Mercalitism began.
The idea of profits and business.
Banks were established to lend and accumulate money.
Society became a "money" economy.