What contributed most to the economic expansion that took place during the commercial revolution? The catalyst for this expansion was Europe’s discovery and colonization of the Americas .
What increased during the Commercial Revolution?
Among the features associated with it were a surge in overseas trade, the appearance of the chartered company, acceptance of the principles of mercantilism , the creation of a money economy, increased economic specialization, and the establishment of such new institutions as the state bank, the bourse, and the futures ...
What economic factors contributed to the Commercial Revolution?
Economic changes that came during the Commercial Revolution include inflation due to the flood of gold and silver into Europe , the stock exchange, and what we recognize today as the modern banking system.
What was the Commercial Revolution that took place Why?
The Commercial Revolution consisted of the creation of a European economy based on trade , which began in the 11th century and lasted until it was succeeded by the Industrial Revolution in the mid-18th century. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe.
What were three results of the Commercial Revolution?
a. Increased Imports and World Trade
1. Western Europe imported many commodities from the New World and the far East: potatoes, tomatoes, peanuts, chili peppers, avocados, squash, pumpkin, Indian corn (maize), tobacco, chocolate, cane sugar, tea and quinine. Some of these items were new to western Europe.
What new European economic principle contributed to the success of the Commercial Revolution?
What economic factors and principles contributed to the success of Europe’s Commercial Revolution? The opening of direct links with Asia, Africa, and the Americas had far-reaching economic consequences for Europeans and their colonies.
What factors contributed to the success of Europe’s Commercial Revolution?
- The discovery of the sea routes to Asia and America. ...
- The rise of the banking institution.
- The formation of the trading companies, which was encouraged by the government.
What were the causes of China’s Commercial Revolution?
The economic upturn was chiefly propelled by improved agricultural technologies ; the use of the abacus, gunpowder, and new printing techniques; the growth of domestic and foreign trade; and the development of a money economy.
What was one major difference between Commercial Revolution and the Industrial Revolution?
The Commercial Revolution shifted European workers away from farms, while the Industrial Revolution caused a majority of Europeans to return to farms .
How long did the Commercial Revolution last?
The Commercial Revolution was a period of European economic expansion, colonialism, and mercantilism which lasted from approximately the late 13th century until the early 18th century.
What social changes were caused by the commercial revolution of the Middle Ages? The use of money caused serfs to pay for the land in rent rather than with labor . A new middle class of people appeared: merchants, traders, artisans. Women were allowed to carry on trade and buy and sell their own property.
What are the causes and effects of the Commercial Revolution?
As money poured in from this new global trade, Europe continued to transform. The Commercial Revolution also caused a population explosion . Simply put, as wealth flooded the continent, it allowed for larger families. In turn, these larger families created a work force to sustain and grow Europe’s new global economy.
How did the Commercial Revolution lead to the Industrial Revolution?
The commercial revolution of the late Middle Ages had already opened up new trade routes and stimulated innovative business practices. The maritime expansion contributed to an accumulation of wealth, growth of the middle classes and a rise of entrepreneurship that fostered the Industrial Revolution.
How did the Commercial Revolution help motivate?
How did the Commercial Revolution help motivate European explorers during the Age of Exploration? It increased the demand for resources and luxury goods from China and India . ... motivate explorers to seek new trade routes to Asia.
How did the Commercial Revolution increase the power of monarchs?
How did increased trade increase the power of the king? The King was able to tax the trade coming into their lands, increasing their wealth and power . Why would workers now have to be paid (as opposed to serfs who were unpaid)?
What was an effect of the Commercial Revolution quizlet?
The Commercial Revolution helped bring about the agricultural revolution because the population had grown due to the increase in money, and businesses required more efficient production of raw materials because trade demand had increased.
