Question

What was the Commercial Revolution? a trade war between European countries following the colonization of the New World the decrease in global trade between Europe, the Americas, and Africa an enormous change in the rules of commerce due to the Columbian Exchange the replacement of colonialism with mercantilism

Answer 1

The correct answer is option 4.

The Commercial Revolution was a change of economic model that took place in Europe between the sixteenth and eighteenth centuries.

It basically marks the transition from subsistence relations to the beginning of the relations of production.

Thus, as a replacement of the colonialist system, a new economic conception arises which was called Mercantilism.

It was based on three pillars: the overseas expansion boosted by the great navigation that in turn gave way to commercial capitalism; second was "metalism," which determined the country's wealth in proportion to the amount of precious metal accumulated and lastly, the third was the emergence of a new social class, the bourgeoisie.