Question

Identify the technological and economic innovations that facilitated the Commercial Revolution

Mercantilism, joint-stock companies, banks, and insurance companies
Navigational technology, joint-stock companies, banks, and exploitation
Navigational technology, joint-stock companies, banks, and insurance companies
Navigational technology, joint-stock companies, banks, and loans

Answer 1

The correct answer is: **Navigational technology, joint-stock companies, banks, and insurance companies.**

These innovations played a crucial role in facilitating the Commercial Revolution, which transformed European economies from local and regional trade networks to a more global trading system.

- **Navigational technology** (like the compass and astrolabe) improved long-distance sea travel and exploration.
- **Joint-stock companies** allowed for the pooling of capital to fund large ventures, spreading risk among many investors.
- **Banks** facilitated the movement of money, credit, and capital, essential for funding new ventures and trade.
- **Insurance companies** helped mitigate the financial risks associated with maritime trade, making it safer for merchants to conduct business.

Together, these innovations contributed to the expansion of trade and the growth of a market economy in Europe.