In the picture, you can see a traditional medieval market where goods are supplied by the merchants, and people come to buy or try to trade their goods for some of the merchants'. There is a merchant selling cloth, and maybe there is silk because the West was introduced to silk thanks to roads that could lead them to the East. Merchants often formed guilds where they would work together and fight for their rights, but also create new goods to sell or trade in. These guilds benefited the towns economically. There are also children in the painting - it was quite common for 12-year-olds to be apprentices of a certain craftsman so that they could learn his craft and one day take over his workshop.
Hope this helps. :)
