Which of the following BEST describes the Commercial Revolution? Choose ONE answer! (2 points)
A. • the establishment of new economic, political, and social systems as well as banking and a futures market
B. • the influx of silver that resulted in economic turmoil for European nations
C. • the "discovery" of the New World that prompted European nations to establish territories
D. • the exchange of goods, diseases, and ideas that resulted from contact between the New World and Old World
A. the establishment of new economic, political, and social systems as well as banking and a futures market
A. • the establishment of new economic, political, and social systems as well as banking and a futures market
To determine the best answer that describes the Commercial Revolution, let's examine the options provided:
A. • the establishment of new economic, political, and social systems as well as banking and a futures market
B. • the influx of silver that resulted in economic turmoil for European nations
C. • the "discovery" of the New World that prompted European nations to establish territories
D. • the exchange of goods, diseases, and ideas that resulted from contact between the New World and Old World
To find the most accurate answer, we need to understand what the Commercial Revolution was. The Commercial Revolution refers to a period of significant economic change that occurred in Europe from the late Middle Ages to the early modern period. During this time, there were major advancements in trade, finance, and commerce.
Option A describes the establishment of new economic, political, and social systems, as well as banking and a futures market, which aligns with the changes brought about by the Commercial Revolution. This option recognizes the transformation of European economies, the rise of capitalism, the emergence of nation-states, and the development of financial institutions like banking.
Option B focuses on the influx of silver and its impact on European nations. Although the influx of silver from the Spanish colonies in the Americas did have economic consequences, it does not encompass all the significant changes that occurred during the Commercial Revolution.
Option C describes the "discovery" of the New World and European territorial expansion. While the exploration and colonization of the Americas were significant events during this time, they are not sufficient to capture the broader changes in European economies and commerce.
Option D highlights the exchange of goods, diseases, and ideas resulting from contact between the New World and Old World. Although this exchange was indeed a consequence of the Columbian Exchange, it does not encompass the overall transformation of economies and societies that took place during the Commercial Revolution.
Based on this analysis, the option that BEST describes the Commercial Revolution is A. • the establishment of new economic, political, and social systems as well as banking and a futures market.