QUESTION IMAGE
Question
the impact of the commercial revolution could be most felt in which realm?
there was a social impact; the merchant class grew and towns and cities became more populated.
there was a trade - related impact; the increase of global trade had an enormous effect on the old and new world.
there was an economic impact; the birth of the banking system, growth of capitalism and companies dramatically increased the wealth of nations.
there was an environmental impact; the increased movement of goods and people drastically changed the environment.
The Commercial Revolution's core and most defining impact was the transformation of economic systems: it spurred the creation of modern banking, the rise of capitalism, and the growth of joint-stock companies, which fundamentally reshaped national wealth and the global economic order. While social, trade, and environmental impacts occurred, the economic shifts were the foundational and most far-reaching change.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
There was an economic impact; the birth of the banking system, growth of capitalism and companies dramatically increased the wealth of nations.