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Complete 10 page APA formatted essay: Compare and contrast the comercial revelotion and indusrtrial revelotion.(1500-2000 AD).Further the commercial and industrial society gained huge profits through
Complete 10 page APA formatted essay: Compare and contrast the comercial revelotion and indusrtrial revelotion.(1500-2000 AD).
Further the commercial and industrial society gained huge profits through the means of mass production. (“Commercial/Industrial Societies”) The growth of economic activities in countries like Europe rapidly pushed the development of trade and mercantile zones which traded on the goods produced by the manufacturing units. Growth in trade and commerce caused a greater capital inflow in the regions. The modern economy thus was observed to shift its dependence from the agricultural base to mercantile and commercial base. The above changes reflect an emergence of a revolution which came to be known as the Commercial Revolution. Advent of commercial revolution also led to the emergence of banks and other financial institutions which acted as middlemen in the economic system. (“The Commercial Revolution”) The Commercial Revolution gained potential in regions like Europe and United Kingdom with the growth of industrial societies. Growth of the industrial societies was spearheaded by the rapid development of transport systems. Thus certain regions of the world became the potential centers which catered to the mass production of goods and services leading to Industrial Revolution. (Knowles, 10)
The trade and commercial activities of the global economies was restricted within the boundaries of such countries in the absence of the concept of globalization. Different countries of the world showed no proper connection with each other. Trade and Commercial activities only existed within regional barriers with no such international linkage. However, restricted trade in the international sphere was observed between the European countries with regions like China and Africa. The international trade between the European countries with Chinese and African counterparts was restricted in nature for it did not encompass direct transactions between the trade bodies of such countries. Rather the commercialization advocated during
