Step-by-step explanation:
The Commercial Revolution, which occurred in Europe between the 16th and 18th centuries, had several significant results, including:
Expansion of trade and commerce: The Commercial Revolution led to an increase in international trade and commerce, as European countries began to establish colonies and trade networks in Asia, Africa, and the Americas. This led to the growth of merchant and banking classes, as well as the development of new forms of business organization, such as joint-stock companies.
Development of capitalism: The Commercial Revolution helped to lay the foundations of modern capitalism, as merchants and entrepreneurs pursued profits through investment in trade and commerce. This led to the growth of wage labor and the emergence of industrial capitalism, as entrepreneurs invested in new technologies and manufacturing processes.
Increase in wealth and economic growth: The Commercial Revolution contributed to a significant increase in wealth and economic growth in Europe, as trade and commerce expanded and new markets were opened up. This helped to fuel the growth of cities and the development of new industries, such as textiles and shipping.
Growth of imperialism: The Commercial Revolution also played a significant role in the growth of European imperialism, as European countries sought to establish colonies and trade networks around the world. This led to the exploitation of natural resources and labor in these colonies, as well as the spread of European culture and values.
Development of international trade and finance: The Commercial Revolution led to the growth of international trade and finance, as European countries established trade networks and banking systems around the world. This helped to lay the foundations for the modern global economy, as well as the development of international financial institutions, such as the World Bank and International Monetary Fund.