The economy when Elizabeth inherited the throne was rather poor than rich. The English treasury was almost out of money due to the costs of wars that England financed for Philip II. Due to this England’s economy suffered drastically. Three to Four million people had poor living standards. Shortly after Elizabeth’s succession, the economy started to improve, and evolve into being prosperous. England’s most important asset was woolen cloth. In the Elizabethan Era, Miniature portraitures also started to flourish, which were popular with the middle and upper class. Architecture prospered due to the growth of the English Renaissance style. The Iron Industry embellished as well. Tin was mined in Cornwall and Copper was mined in Cumberland. The main
