How did the economic system change after 1450 in Western Europe? (2 points)

Question

Responses

The economy shifted to focus on cash economies instead of barter.
The economy shifted to focus on cash economies instead of barter.

The economy became a complete free market system.
The economy became a complete free market system.

The economic system was based on industrialization.
The economic system was based on industrialization.

The economy was based on feudalism.
The economy was based on feudalism.

Answer 1

After 1450 in Western Europe, two significant changes in the economic system can be highlighted:

1. The economy shifted to focus on cash economies instead of barter. The rise of commerce and trade networks led to an increased use of money, facilitating transactions and contributing to the growth of a more market-oriented economy.

2. The economic system was based on industrialization. While full industrialization came later, the foundations were laid during this period, particularly with advances in technology and the growth of trade, setting the stage for the eventual shift towards industrial economies in the following centuries.

It's worth noting that while feudalism was still present in some areas, the transition toward more cash-based economies and the beginning of industrial practices pointed towards a significant shift away from purely feudal structures. The statement about a complete free market system is somewhat misleading, as many economies were still influenced by state regulations and mercantilist policies during this time.