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commercial revolution

Terms in this set (4)

commercial revolution
This was the period of economic and political expansion, colonialism, and mercantilism that occurred in Europe
characteristics of the commercial revolution
new wealth
-growth in oversees trade
-dramatic change in the economic atmosphere of Europe
-commerce no longer local, but global
-rise in capitalism
-encouraged joint-stock ventures
-banking systems formed
-nations adopt philosophy of mercantilism
columbian exchange
the transfer of plants, animals, and diseases between the Americas and Europe, Asia, and Africa
mercantilism
1)attract large amounts of gold and silver
2) achieve favorable balance of trade
3) increase exports by stimulating domestic industries
4) discourage imports by having levying tariffs
5) acquire colonies to assure markets for manufactured goods and guarantee sources of raw materials
6) restrict colonial manufacturing
7) Mother country, forbid colony to trade with outside country
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