How was the economy in the middle ages?

Answer 1

During the early middle ages urban populations shrank massively and long distance trade greatly decreased(although it never stopped entirely). Money nearly dropped out of the economy in Europe. Prior to the year 1000 Europe was overwhelmingly rural, very local, and cash poor.

After the year 1000 there was a gradual improvement. Urban populations increased, trade improved, and cash moved back into the economy. Improvements in agriculture allowed for a greater urban population and more surplus crops to be sold. In all cases agriculture and the control of land was basis of the economy. Even at the height of the late middle ages around 90% of the population lived in small villages and farmed, tended animals, fished, or otherwise worked the land. The aristocracy derived its wealth from controlling large amounts of land which was worked by peasants who owed labor obligations. The medieval church was also a major landlord, and derived much of its wealth from feudal land holdings. In addition to food, goods such as flax (which was used to make linen), wool, hides and leather, bone and horn (which were made into many small manufactured goods such as pins, brooches, and combs) where all produced on the farms of Europe.

In addition to the farming villages there were towns where the economy focused on crafts and trading instead of agriculture. The smallest of these towns was no larger than a large village. The largest were genuine cities, but these were rare. Medieval London had a population of around 25,000 people. There was no other city in England with a population over 10,000. Medieval Gloucester, which had a population of around 3500 was among the 10 largest cities in England.

The dominant factor in these towns, which grew in number and in size in the later half of the middle ages, was a focus on crafts and trade instead of farm work. A village might have a few specialists, such as a blacksmith, a carpenter, and a miller, but villagers of the later middle ages would take their surplus produce to markets in these towns, and the residents of these towns primarily practiced crafts to manufacture the everyday goods of the middle ages.

There was long distance trade as well. Larger towns and cities would have major trade fairs several times each year, and merchants would come from long distances to trade and sell.

Answer 2

the economic situation was hard. little people had jobs. but that is why guilds were formed. all in all, it was hard for the working class.

Answer 3

Mostly agriculture.