Mercantilism and the Commercial Revolution

The video discusses the commercial revolution, highlighting the Columbian Exchange, triangular trade, and mercantilism. It explains how these elements transformed global trade and economies, particularly in Europe. The role of silver and the rise of joint stock companies are also covered, showing how they contributed to European wealth and power.

What was a major consequence of the Columbian Exchange for the Native Americans?

• Introduction of new technologies

• Spread of diseases

• Establishment of new trade routes

• Discovery of new continents

Which crop introduced to Europe from the Americas became a staple in preventing famines?

• Rice

• Corn

• Potatoes

• Wheat

In the Triangular Trade, what was primarily traded from Africa to the Americas?

• Gold

• Textiles

• Slaves

• Spices

What was the main goal of European countries in maintaining a favorable balance of trade?

• To decrease exports

• To buy more than they sell

• To increase imports

• To sell more than they buy

What was the purpose of the Navigation Acts under mercantilism?

• To restrict colonial trade to the mother country

• To allow free trade between colonies

• To promote trade with rival nations

• To encourage colonies to produce their own goods

Which of the following was NOT a rule under mercantilist policies?

• Colonies could trade freely with any country

• Colonies could only trade with the mother country

• Colonial goods had to be transported on English ships

• Colonies were restricted from producing certain goods

How did the influx of silver from the Americas impact European economies?

• It resulted in the collapse of European markets

• It became a global currency and increased wealth

• It led to a decrease in European wealth

• It caused a decline in European naval power

What was a key advantage of joint stock companies for European investors?

• They guaranteed profits for all investors

• They allowed for individual ownership of businesses

• They reduced investment risk by diversifying

• They required no initial capital investment

What was a significant outcome of the Commercial Revolution for Europe?

• Europe became less advanced

• Europe lost its colonies

• Europe became more isolated

• Europe became wealthier and more powerful

Which of the following best describes a joint stock company?

• A company funded by government grants

• A company that only trades in silver

• A company with shared ownership among investors

• A company owned by a single individual