Identify the role of luxury goods in the Commercial Revolution

Question

Luxury goods became very popular in Europe, which turned into an increased trade
Luxury goods became very popular in Europe, but scarcity of these was controlled. this led to decreased wealth in Europe
Luxury goods became very popular in Europe, which led to increased trade. This, in turn, led to decreased wealth among Europeans as they bought more expensive luxury goods
Luxury goods were great supply due to trade. This led to increased wealth among Europeans.

Answer 1

The most accurate statement regarding the role of luxury goods in the Commercial Revolution is:

Luxury goods became very popular in Europe, which led to increased trade. This, in turn, led to decreased wealth among Europeans as they bought more expensive luxury goods.

This reflects the dynamics of the Commercial Revolution, where the increasing demand for luxury goods fueled trade expansion, but also placed financial strain on consumers due to the high costs of these goods. The growth of trade networks allowed for a greater variety of luxury items to be available in Europe, contributing to economic changes and societal shifts.