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Unformatted text preview: Medieval Markets, Fairs & Long-Distance T rade Two Key Business Features of Central Middle Ages Development of network of markets and fairs Increase in international and long distance Trade 1. Markets Market: gatherings of a single-days duration, local ad retail trade predominated During the central middle ages nearly every urban city could hold a market Market were located in halls, wide city street and open squares Peasants, Traveling Peddlers, shopkeepers and artisans sold at these markets In central middle ages, lords and urban governments designated market locations, hours, fees, and other regulations 2. Fairs Fair: annual or bi-annual religious festivals, often honored a patron saint Trade, feasts, entertainment were included events Cycle of regional and international fairs developed as many areas celebrated at different times and locations Fairs offered business opportunity for merchants Authorities established regulations and guaranteed security for merchants Law used at courts Merchant Law lex mercatoria not codified...
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- Fall '10