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sattari [20]
3 years ago
10

How did the Commercial Revolution lay the foundation for the economy of modern Europe?

History
1 answer:
Ivanshal [37]3 years ago
7 0
The Commercial Revolution was a period of European economic expansion, colonialism, and mercantilism which lasted from approximately the 16th century until the early 18th century. It was succeeded in the mid-18th century by the Industrial Revolution. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe. This development created a new desire for trade, and trade expanded in the second half of the Middle Ages. European nations, through voyages of discovery, were looking for new trade routes in the 15th and 16th centuries, which allowed the European powers to build vast, new international trade networks. Nations also sought new sources of wealth. To deal with this new-found wealth, new economic theories and practices were created. Because of competing national interest, nations had the desire for increased world power through their colonial empires. The Commercial Revolution is marked by an increase in general commerce, and in the growth of non-manufacturing pursuits, such as banking, insurance, and investing.

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How do countries become richer than others?
Feliz [49]

Some countries have established institutions that form a good breeding ground for education, savings and technological progress – or they have simply been blessed with a culture or a geography that has formed a productive environment.

Before the Industrial Revolution there were only very small differences in countries' prosperity.

But the revolution brought with it a shift to mechanised production, which resulted in great increases in productivity and efficiency.

With this revolution, it was mainly European countries that saw massive increases in their production output. Today these countries are way ahead of certain other countries in the world.

This difference in the timing of the Industrial Revolution can explain much of the difference between rich and poor countries today. It is therefore interesting to study factors affecting the timing of the Industrial Revolution.

The Industrial Revolution was a period from 1750 to 1850 in which changes in agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions of the times. It started in the UK, then subsequently spread throughout Western Europe, North America, Japan, and eventually the rest of the world.

The industrialisation process in the rest of Western Europe and the United States after 1870 has been termed 'the second Industrial Revolution'.

Poverty is still the biggest problem the world faces from day to day. Every country suffers from it to some degree, however certain places are greater effected than others. This is because the level of economic growth differs from country to country. The greater amount of growth the less room there is for poverty. This is simple reason why some countries are richer than others


6 0
4 years ago
Read 2 more answers
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Fed [463]

Answer:

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Explanation:

Hope this helped.

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oksano4ka [1.4K]

Answer:

The United Nations (UN) is world leading organization and has been successful to achieve it core mission, “to save succeeding generations from the scourge of war", as there is no major world wars post the World War II in 1945

Explanation:

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