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THE EARLY MODERN AGE image Began in 1453 the Fall of…

- - - - Voyages of exploration to new lands
        
        New products were brought to Europe
      - The development of mercantile capitalism
    - - In this period there was an increase in the amount of land under cultivation.
    - - Increase in agricultural production resulted in a surplus
    - - Products were made in workshops, which were controlled by associations of craftsmen called guilds
    - - providing loans
        
        Merchants needed money to begin new commercial activities. The bankers lent money in exchange for returning the same amount plus an additional amount, called interest
      - Creating new forms of payment
        
        The bill of exchange was cretaed. This was a document which guaranteed that the banker would pay a merchant.
- - - - Bourgeoisie
        
        They were not ruled by a feudal lord. This social group increased in number, became wealthier and gained more political influence during the Early Modern Age.
    - - Peasants and seves
        
        They were serfs of the feudal lord or noble. They had to pay them mentor a part of their harvest.
    - - Nobility and clergy
        
        Were a minority, but owned most of the land. They were the only ones who had access to high political positions. They had numerous privileges