Question

Discuss the causes and impacts of price revolution in Europe​

Answer 1

Answer

In the late 15th and early 16th centuries, there was an influx of precious metals in Europe. The metals were imported from America. The Spanish who offered cheap labor flooded the European market with cheap metals which led to a relative decrease in their value.

Answer 2

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The high supply of money, a growing population, and the rise of development and urbanization gave rise to the price revolution in Europe. Influx of Precious Metals: After the discovery of the Americas by Christopher Columbus, settlers from Europe quickly found rich deposits of precious metals in this uncharted land..

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