The Renaissance Economy: The Rise of Banking

Instructions:

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question 1 of 3

Which of the following helps to explain the increase in the standard of living for middle class survivors of the Black Plague?

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1. How did geography play a role in the successful banking business of the Medici family?

2. How did the double-entry accounting system simplify banking?

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About This Quiz & Worksheet

Most people picture the Renaissance in terms of its contributions to the visual arts, but none of the cultural movements that we associate with the Renaissance would have happened if the Renaissance economy had risen with developments in banking. These assessment questions will go over some facts regarding the role of banking in the economies of Renaissance Europe, such as cities that served as financial centers and the mass-production of coins.

Quiz & Worksheet Goals

Some topics this quiz will test you on are:

  • The effects of the black plague on the economy
  • The city associated with the Medici family
  • Advancements in banking during the Renaissance
  • Developments in the mass-production of coins
  • The characteristics of bills of exchange

Skills Practiced

  • Information recall - test your recollection of developments in banking that occurred in Europe during the Renaissance period
  • Reading comprehension - make sure that you've understood the reasons for economic changes during the Renaissance, and the subsequent developments in the practice of banking
  • Knowledge application - go through the quiz questions and apply your understanding of Renaissance banking, economic developments during the Renaissance, and important financial centers

Additional Learning

Get more information on Renaissance banking by reviewing the lesson titled The Renaissance Economy: The Rise of Banking. Some topics covered in this lesson are:

  • The early Renaissance economy
  • The rise of the middle class
  • The Medici family
  • Banking practices in the Renaissance
  • Notable European banks
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