Question

how did interactions between muslims and europeans affect european financial practices? using credit instead of cash became more common in business. insuring goods against loss became a common business practice. more christians were able to lend money at interest. landlords began to pay their peasants in cash.

Answer 1

interactions between Muslims and Europeans affect european financial practices using credit instead of cash became more common in business.

The discipline of finance is the study of money, money systems, and capital assets. It is associated with economics, which is the study of the production, distribution, and consumption of money, assets, products, and services, but is not the same thing (the discipline of financial economics bridges the two). Financial systems support a variety of financial activities, therefore the area of finance may be loosely classified into three categories: personal, corporate, and public. 

In a financial system, assets such as money, loans, bonds, shares, stocks, options, futures, etc. are purchased, sold, or exchanged as financial instruments. Additionally, assets can be invested in, insured, and banked to increase value and decrease loss. In reality, there are dangers associated with every financial transaction and entity.

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