Language in the Elizabethan times became more like modern english around the early 1600's, but there were still many differences compared to language today. Below, I have put together a list of notes about those language differences from the ELizabethan / Shakespearean times.
Thee & Thou: used with inferior and equal people; also used in friendly or informal situations.
Source: The Writer's Guide to Everyday Life in Renaissance England. By: Kathy Lynn Emerson.