What is the commercial Revolution

 What is the commercial  Revolution

The commercial  Revolution   refers   to a sries   of events  between  1450 to approximately  1800.  These  events  signaled  to a shift  from  the largely  subsistence  and stagnant  economy  of medieval  Europe   to a more  dynamic  and World wide  system  .The  commercial   Revolution   in this  sense  signified   the expansion of trade and commerce that took place  from the fifteenth  century  onwards  . It was  of such  a large  scale  and  organized  manner  that we call it a Revolution  . This  expansion   was as a result  of the  initiative   taken  by  certain   European   countries  to develop and consoliate  their economic  and political   power  . These countries   we're  Portugal,  Spain, Holland,  and England, one of the important   features  of the commercial  Revolution   was  the growth  of banking . Credit   facilities  we're expanded  ,  making it  easy  for merchants  all over Europe  to do  business  . The cheque  was invented  in the eighteenth century  . Paper  money came to replace  gold and silver  coins .  Growth   of companies   as trade and commerce   expanded  , new kind of business   organizations had to be  devised   to cope  with this Growth   regulated   companies   arose  in the 16th century . These  we're  association  of merchants  who bonded  together   to cooperate  for a common  venture.

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