Question

What was the Commercial Revolution?

Answer 1

Commercial Revolution is a term used to refer to the Great rise in business in Europe that occurred in the later phase of the Middle Ages. It experienced inducement from the journeys of a journey initiated by Britain, Spain, and different countries to Asia, Africa, and the New World. Among the characteristics correlated with it remained a wave in overseas commerce, the introduction of the chartered company, recognition of the policies of mercantilism, the invention of a money market, improved business specialization, and the founding of some new businesses such as the state bank. This revolution prepared a stage for the upcoming Industrial Revolution.

Answer 2

The Commercial Revolution consisted in 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.