A result of the Commercial Revolution was the transition from

a town-centered economy to a nation-centered one

Banking in the Middle Ages was discouraged from lending $$ with interest (usury) because

of moral and religious reasons by the Roman Catholic Church

What was NOT one of the principles of mercantilism?

promote laissez-faire approach in business

Which of these was NOT a new business method used from the Commercial Revolution?

Continuation of the barter system in case of bank failure

What was Commercial Revoluton?

development of profit-based economy, urban growth, > trade

How did the commercial revolution affect Europe economically?

Growth of financial services, commerce, trading organization

Results of the new banking system inc. all EXCEPT

helped sow the seeds of socialism

What was NOT a way the commercial revolution affected Europe socially?

it made people moved out of Europe

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The Commercial Revolution

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commercial revolution banking mercantilism

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Questions 15

Answers

1
Great Florentine banking family who was involved in politics & the Roman Cath Church
Medici
Fugger
Walpole
Goldman-Sachs
2
A result of the Commercial Revolution was the transition from
European trade with other regions to one of local trade
a nation-centered economy to town-centered one
royalty having most of the $$$ to distribution of $ to serfs
a town-centered economy to a nation-centered one
3
A state’s power depends on its actual wealth in terms of the amt of gold/silver it had-this is:
a law of nature
an inalienable right
a concept of mercantilism
a tenet of communism
4
Great German banking family to emerge from the Comm Rev & loaned $$ to kings & princes was the
Fugger
Tudor
Rothchild
Medici
5
Banking in the Middle Ages was discouraged from lending $$ with interest (usury) because
it reduced business risk
of Eur interest in acquiring goods from the new world
of moral and religious reasons by the Roman Catholic Church
it contributed to the rise of a global economic system
6
What was NOT one of the principles of mercantilism?
promote laissez-faire approach in business
goal was to achieve economic self-sufficiency
state wants favorable bal of trade, max. exports/min imports
get colonies as source of raw material for prod of fin goods
7
Which of these was NOT a new business method used from the Commercial Revolution?
Continuation of the barter system in case of bank failure
Investing money
Reducing business risk
Speeding flow of wealth
8
The British East India Company promoted
English trade with Virginia
Dutch trade with Asia
English trade with India
French trade with Asia
9
What was Commercial Revoluton?
a period of economic & political tensions in Europe
a period of wars which resulted in the splitting of Europe.
increased advertisements for vacant serf job openings
development of profit-based economy, urban growth, > trade
10
What was NOT a purpose of a joint-stock company?
Attract capital investment
Issue personal cheques
Share risks of investment
Share profit from investment
11
How did the commercial revolution affect Europe economically?
Many countries went into a depression.
It allowed more towns to develop.
Forced people to spend more money, so the economy declined
Growth of financial services, commerce, trading organization
12
One group who did NOT see many real benefits from the Commercial Revolution was the
Peasants
Absolutists
Middle Class
Merchants
13
Results of the new banking system inc. all EXCEPT
establishment of credit & paper currency
establishment of government banks
helped sow the seeds of socialism
bank notes led to replacing gold and silver
14
What was NOT a way the commercial revolution affected Europe socially?
Created new desire for trade and new ways of doing business
it made people moved out of Europe
merchants became wealthier than the nobles
there was more leisure time as middle class expanded
15
The Commercial Revolution would contribute to the first era of
absolutism
isolationism
globalization
fashion

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