Commercial Revolution
Definition
The Commercial Revolution refers to the period of European economic expansion, colonialism, and mercantilism which lasted from approximately the late 13th century until the early 18th century. It was characterized by an increase in trade, exploration, and wealth accumulation.
Analogy
Think of the Commercial Revolution like a massive shopping mall opening up in a small town. Before it arrived, people were limited to local goods and services. But with this new mall (or in historical terms, new trade routes and colonies), they suddenly had access to products from all over the world.
Related terms
Mercantilism: An economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances.
Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.
Exploration: The action of traveling in or through an unfamiliar area in order to learn about it.
"Commercial Revolution" appears in:
Subjects (1)
Study guides (6)
AP European History - 1.1 Context of the Renaissance
AP European History - 1.10 The Commercial Revolution
AP European History - 1.11 Causation in the Renaissance and Age of Discovery
AP European History - 2.1 Contextualizing 16th and 17th-Century Challenges and Developments
AP European History - 3.4 Economic Development and Mercantilism
AP European History - 5.2 The Rise of Global Markets
Practice Questions (20)
- Which of the following factors contributed to the growth of the Commercial Revolution in Europe?
- Which economic system played a key role in the Commercial Revolution?
- How did the Commercial Revolution impact the social structure in Europe?
- Which region of Europe was a center for banking and finance during the Commercial Revolution?
- The development of joint-stock companies during the Commercial Revolution can be attributed to:
- Which European country played a leading role in global maritime exploration during the Commercial Revolution?
- Which technological advancement had a significant impact on navigation during the Commercial Revolution?
- The economic theory of "bullionism" during the Commercial Revolution emphasized:
- Which new financial institution emerged during the Commercial Revolution to facilitate international trade?
- Which economic practice was commonly employed by European colonial powers during the Commercial Revolution?
- How did the Commercial Revolution contribute to the growth of cities and urbanization?
- Which region benefited the most from the Columbian Exchange during the Commercial Revolution?
- How did the Commercial Revolution impact labor systems in Europe?
- How did the Commercial Revolution contribute to the rise of the nation-state in Europe?
- What is the significance of the Commercial Revolution in the context of the Age of Reformations?
- How did the Commercial Revolution impact the European economy?
- Who were the successful entrepreneurs in Europe during the Commercial Revolution?
- What impact did Commercial Revolution have on mercantilism during this period?
- What was the purpose of double-entry bookkeeping during the Commercial Revolution?
- What were the significant results of the Commercial Revolution in Europe during the 17th century?
Resources
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