Answer:
The most significant economic effects in the European discovery would be:
1. Price Revolution
2. The emerge of the Industrialization
Explanation:
1. Price Revolution
As the New World was discovery the shipments of gold brought by Spanish and Portuguese became the capita to buy goods needed for the people living in these countries.
As a result of the major quantity of gold available in the economy the prices of commodities rose. The economic power that once was represented in the amount of land possessed by a man shift to the ones with the skills to manufacture the goods and services needed by the population.
2. The emerge of the Industrialization
As the people of countries like Spain and Portugal have a greater flow of gold. Countries like France, the Netherlands and Britain started evolving their manufacture in order to satisfy the needs of products in these economies.
Over the long run the economic power would shift to those developing sophisticated manufacture process.