Base your answer on the passage below and on your knowledge of social studies. ...The town was a centre of attraction and diffusion, but above all it was a centre of production. The town was a crossroads and a terminus [last stop]: through contracts, meetings and exchanges it could play a major creative role... - Jacques Le Goff, The Fontana Economic History of Europe: The Middle Ages Which statement would this passage best support?

• A) Towns were important in an emerging international economy.

• B) Economic self-sufficiency was reinforced by the revival of towns.

• C) Crossroad locations limit the functions of towns.

• D) The culture of towns discouraged new ideas

Which trait is a characteristic of serfdom?

• limited economic options

• upward social mobility

• extensive political influence

• service as a warrior

Increases in trade and commerce that occurred during the late Middle Ages in Europe resulted in

• lower living standards for guild members

• the development of more towns and cities

• a decline in rivalries between kings

• an increase in the number of self-sufficient manors

During the rise of capitalism in Europe, merchants and bankers began to establish

• systems based on bartering

• rules that forbid loans to the wealthy

• quotas to control production

• insurance companies and joint stock companies

Development and expansion of banking, insurance companies, and stock exchanges were essential to the system of

• feudalism

• tribute

• capitalism

• bartering

The development of banking during the Commercial Revolution in western Europe was significant because it

• provided capital resources to merchants for investment

• allowed peasant farmers to finance the construction of new homes

• enabled the proletariat to challenge the bourgeoisie

• created pensions for retired workers

How did the Commercial Revolution change economic practices in Europe?

• The manorial system was established.

• A capitalist economy was developed.

• The Church became a major economic power.

• Colonies were granted independence.

During the European Middle Ages, guilds were created to

• obtain better working conditions in factories

• standardize goods and prices

• regulate the money supply

• increase competition

Which revolution in Europe is most closely associated with the rise of capitalism, the formation of guilds, and the growth of banking systems?

• Commercial

• Scientific

• Agrarian

• Glorious

Which period in European history is most closely associated with the emergence of trade fairs, the founding of guilds, and the creation of the Hanseatic League?

• Age of Pericles

• Commercial Revolution

• Age of Reason

• Glorious Revolution