CKLA Grade 5 Unit 5 Chapter 5

Front

What is the Medici family's role in banking?

Back

The Medici family was a powerful banking family in Florence, Italy, known for their influence in politics, culture, and the arts during the Renaissance.

Front

How did increased trade impact banking?

Back

Increased trade allowed bankers to charge fees for exchanging currencies and providing loans, leading to greater wealth for banking families like the Medici.

Front

What is a loan?

Back

A loan is a sum of money borrowed that is expected to be paid back with interest.

Front

What does it mean to exchange currencies?

Back

Exchanging currencies means converting one type of money into another, often for trade or travel purposes.

Front

Who was Cosimo de' Medici?

Back

Cosimo de' Medici was a prominent member of the Medici family who played a significant role in the development of banking and the arts in Florence.

Front

What is the significance of supporting artists?

Back

Supporting artists helps promote culture and can enhance a family's reputation and influence, as seen with the Medici family.

Front

What is a fee in banking?

Back

A fee is a charge imposed by banks for services such as currency exchange or processing loans.

Front

What is the Renaissance?

Back

The Renaissance was a cultural movement in Europe from the 14th to the 17th century, characterized by a revival of art, literature, and learning.

Front

What is the relationship between trade and wealth?

Back

Increased trade can lead to greater wealth as it allows for more transactions, investments, and economic growth.

Front

What does it mean to promote a business?

Back

Promoting a business involves marketing and supporting its activities to increase visibility and sales.