Commercial Revolution and Its Impacts

The video explores the commercial revolution, a pivotal shift from a feudal economy to a commercial one, beginning in the late Middle Ages. It highlights the establishment of trade routes, the rise of trading companies, and the role of exploration in expanding global commerce. The video also discusses the impact of mercantilism and colonization on the global economy. The commercial revolution set the stage for capitalism, the industrial revolution, and globalization, shaping the modern world economy.

What economic system was predominant before the commercial revolution?

• Industrial economy

• Feudal economy

• Capitalist economy

• Socialist economy

Which centuries marked the height of the commercial revolution?

• 16th and 17th centuries

• 15th and 16th centuries

• 14th and 15th centuries

• 17th and 18th centuries

Which explorer is known for finding the Americas while searching for Asia?

• Marco Polo

• Christopher Columbus

• Ferdinand Magellan

• Vasco da Gama

What was a significant outcome of discovering new trade routes during the commercial revolution?

• Decline of European cities

• Decrease in cultural exchange

• End of global commerce

• Rise of powerful trading companies

What economic theory was central to the commercial revolution?

• Capitalism

• Socialism

• Feudalism

• Mercantilism

What role did colonies play during the commercial revolution?

• They were independent economic entities.

• They served as sources of raw materials and markets for finished goods.

• They were primarily cultural exchange centers.

• They had no significant economic impact.

How did the commercial revolution contribute to the industrial revolution?

• By promoting agricultural expansion

• By eliminating competition

• By fostering rapid industrialization and technological advancements

• By reducing global trade

What concept introduced by the commercial revolution is now known as globalization?

• Isolationism

• Feudalism

• Protectionism

• Global marketplace

What was one of the lasting impacts of the commercial revolution on the modern world?

• The rise of feudalism

• The decline of capitalism

• The foundation of the modern global economy

• The end of international trade

Which of the following was NOT a result of the commercial revolution?

• Establishment of colonies

• Decline of urban centers

• Rise of powerful trading companies

• Increased global trade