Identify the technological and economic innovations that facilitated the Commercial Revolution. (1 point)
A. navigational technology, joint-stock companies, banks, and insurance companies
B. mercantilism, joint-stock companies, banks, and insurance companies
C. navigational technology, joint-stock companies, banks, and loans
D. navigational technology, joint-stock companies, banks, and exploitation
A. navigational technology, joint-stock companies, banks, and insurance companies
The correct answer is A. navigational technology, joint-stock companies, banks, and insurance companies.
To identify the technological and economic innovations that facilitated the Commercial Revolution, we need to understand the context of the period. The Commercial Revolution refers to the period of European economic expansion and transformation between the 15th and 18th centuries. During this time, there were several important developments that played a crucial role in driving economic growth and international trade.
Navigational technology was one of the key factors that facilitated the Commercial Revolution. European explorers, such as Christopher Columbus and Vasco da Gama, made significant advancements in navigation techniques, such as improved maps, compasses, and navigational instruments. These advancements allowed sailors to venture into new territories and establish trade networks with distant lands, opening up new opportunities for commerce.
Joint-stock companies were another important innovation of the Commercial Revolution. These entities allowed investors to pool their resources and share both the profits and risks of overseas trade ventures. By providing a means for individuals to invest in large-scale commercial enterprises, joint-stock companies promoted economic growth and facilitated international trade.
Banks also played a crucial role in the Commercial Revolution. They provided services such as currency exchange, loans, and financing for trade expeditions. Banks helped facilitate commercial transactions by providing a safe and reliable medium for the exchange of goods and services, as well as credit to finance trade ventures.
Insurance companies were another key innovation that emerged during the Commercial Revolution. As long-distance trade expanded, merchants faced increased risks, such as shipwrecks or piracy. Insurance companies offered protection against these risks, allowing merchants to minimize their potential losses and focus more on expanding their trade activities.
Based on this information, the correct answer is A. Navigational technology, joint-stock companies, banks, and insurance companies were the technological and economic innovations that facilitated the Commercial Revolution.