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 general commerce, and in the growth of financial services such as banking and investing.
Think of it like a shopping mall opening up in a small town. Before, people were limited to local shops or had to travel far for more options. But with this new mall (the Commercial Revolution), there are suddenly many more choices available right at their doorstep.
Mercantilism: An economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.
Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.
Economic Expansion: A phase of the business cycle when real GDP grows for two or more consecutive quarters, moving from a trough to a peak.
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