Just summarize this thats all

as trade increased and towns grew in size and number during the late middle ages, merchants set up profitable businesses throughout western europe. merchants in each town usually joined together to form guilds. these guilds became so successful that other industries such as carpentry, masonry, etc. also formed guilds. there were important advantages for those belonging to a guild; they could dictate prices, they could determine who could do business in town and they decided what the standards of quality would be for their goods.
the champagne fair
perhaps the best known fairs of the medieval period are the champagne fairs. count theobald ii of champagne (also known as theobald iv of blois) recognized that by organizing trade and providing a central location, goods could be traded more easily. he also recognized the potential for profit in hosting fairs. at its height, there were six fairs in champagne, and it is largely to them that the wool market thrived. theobald's son, henry, also patronized the fairs, and soon the counts of champagne were fabulously wealthy. fairs like those stimulate the economy, not only locally, but also throughout europe and into the levant. english wool, french wine, russian wax, and prussian wheat could all be found at such fairs. while the champagne fairs did not remain as lucrative after the 14th century ( to the ravages of the black death, war, and a commercial shift from the mediterranean to the atlantic), they did much to reinvigorate the european economy.
the 12th century was a time of expansion in medieval europe. kings and lesser lords pushed into new territories, the crusades brought europeans into contact with new peoples and markets, and the economically inward-looking world of the earlier middle ages gave way to a larger, outward-looking world of interregional and international trade. one consequence of that expansion was the rise of towns, a development that meant a number of significant changes and innovations. the period gave rise to a new money economy, large-scale commerce, and great local trade fairs, all of which began to redefine medieval society.