Identify the technological and economic innovations that facilitated the Commercial Revolution.(1 point)
Responses
navigational technology, joint-stock companies, banks, and exploitation
navigational technology, joint-stock companies, banks, and exploitation
navigational technology, joint-stock companies, banks, and loans
navigational technology, joint-stock companies, banks, and loans
navigational technology, joint-stock companies, banks, and insurance companies
navigational technology, joint-stock companies, banks, and insurance companies
mercantilism, joint-stock companies, banks, and insurance companies
The correct response is: navigational technology, joint-stock companies, banks, and exploitation
The correct response is: navigational technology, joint-stock companies, banks, and insurance companies.
To identify the technological and economic innovations that facilitated the Commercial Revolution, we can look at the provided options and consider their relevance.
1. Navigational technology: Advanced navigation tools and techniques such as the astrolabe, compass, and improved shipbuilding methods allowed for more accurate and efficient long-distance travel.
2. Joint-stock companies: These companies enabled investors to pool their resources and spread the risk of overseas trade ventures. This form of business organization provided funding and allowed for the expansion of trade.
3. Banks: The establishment of banks provided a safe and efficient system for storing and transferring money. This encouraged trade by offering a means for merchants to securely conduct financial transactions and obtain credit.
4. Exploitation: This term is quite broad and could be interpreted in various ways. However, in the context of the Commercial Revolution, it often refers to the extraction of resources and wealth from newly discovered territories or colonies.
5. Loans: Loans were another financial tool that helped facilitate trade. Merchants could borrow money from banks or other lenders to finance their ventures, thus enabling them to expand their trading activities.
6. Insurance companies: The emergence of insurance companies provided merchants with a way to mitigate the risks involved in long-distance trade. In exchange for premiums, merchants could obtain insurance policies that would compensate them in case of loss or damage to their goods during transit.
Out of these options, the most suitable answer would be "navigational technology, joint-stock companies, banks, and insurance companies." These innovations collectively contributed to the growth and expansion of commerce during the Commercial Revolution.