Identify the technological and economic innovations that facilitated the Commercial Revolution. (1 point)
• navigational technology, joint-stock companies, banks, and loans
• navigational technology, joint-stock companies, banks, and exploitation
O navigational technology, joint-stock companies, banks, and insurance companies
O mercantilism, joint-stock companies, banks, and insurance companies
• navigational technology, joint-stock companies, banks, and insurance companies
The correct answer is: 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 key factors that contributed to this major transformation in world trade and commerce. The Commercial Revolution, which occurred from the 16th to the 18th centuries, was driven by several important innovations.
1. Navigational Technology: One of the crucial developments was the improvement in navigational technology, particularly advancements in shipbuilding, navigation instruments, and mapmaking. This allowed for more efficient and safer long-distance maritime travel, opening up new trade routes and expanding global trade networks.
2. Joint-Stock Companies: The emergence of joint-stock companies was another instrumental innovation. These companies allowed individuals to pool their resources and invest in large-scale ventures, such as overseas trade expeditions. They spread the financial risk among multiple investors and helped fund costly and risky expeditions.
3. Banks and Loans: The establishment of banks and the rise of the banking system played a vital role in facilitating international trade during the Commercial Revolution. Banks provided safe storage for money and allowed merchants to transfer funds between different locations. They also began offering loans to finance trade ventures, enabling merchants to expand their operations.
4. Exploitation (Not an option): While exploitation was a significant aspect of the Commercial Revolution, it is not one of the technological or economic innovations that facilitated it.
5. Insurance Companies: Insurance companies also emerged during this period, providing a means for merchants to insure their ships and cargo against potential losses. This increased the confidence and willingness of merchants to engage in long-distance trade, as they were protected against unforeseen risks and losses.
6. Mercantilism (Not an option): Mercantilism was an economic theory that influenced the policies and practices of many nations during the Commercial Revolution, but it is not a technological or economic innovation in itself.
Based on the options provided, the most accurate answer is: navigational technology, joint-stock companies, banks, and insurance companies. These innovations formed the backbone of the Commercial Revolution, enabling increased trade, exploration, and economic growth during this period.