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Commercial Revolution

commercial revolution
the expansion of trade and business that transformed European economies during the 16th and 17th centuries
an economic system based on private ownership and on the investment of money in business ventures in order to make a profit
joint-stock company
a business in which investors pool their wealth for a common purpose, then share the profits
an economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by selling more goods than they bought
favorable balance of trade
an economic situation in which a country exports more than it imports, that is sells more goods abroad than it buys from abroad
List 3 consequences of the Atlantic Slave Trade
1. the americas became more diverse and impacted by Africans and their culture
2. Numerous African communities lost generations of their members
3. Millions of African families were torn apart
4. Introduction of guns in Africa helped promote slave trade and spread warfare
How did the Commercial Revolution change European society
1. growth in towns and urban centers
2. rise in a merchant class
3. the merchant’s are rising in social status
4. rise in powerful European nations (England, France, Spain)
5. European monarchs are becoming more powerful

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