Western Europe saw a shift to free peasantry and commercial agriculture, while serfdom persisted in Eastern Europe, creating a major social divide.

Both held monopolies on East Asian trade, but the Dutch were first, and both significantly boosted their respective empires' wealth.

Northern Europe used a three-crop rotation, while the Mediterranean used a two-crop system; three-crop rotation generally boosted productivity more effectively.

The Commercial Revolution was about trade and early capitalism, while the Industrial Revolution was about manufacturing and new technology.

Europe received new crops and precious metals, leading to economic and social changes, while the Americas suffered from disease and exploitation.

Merchants gained wealth and influence through trade, while landowners benefited from enclosure and freehold tenure, solidifying their power.

Before, aristocracy dominated; after, a new elite class of wealthy merchants and bankers emerged, challenging the traditional social order.

Before, the economy was largely agrarian and localized; after, it was more trade-based and globalized, with early forms of capitalism.

The Price Revolution negatively impacted the poor and wage earners due to inflation, while merchants and landowners benefited from rising prices.

Before, guilds focused on maintaining standards and protecting members; during, they also challenged merchant elites and advocated for better conditions.

Cause: Spanish colonization of the Americas. Effect: Inflation (Price Revolution) in Europe, especially Spain.

Cause: Desire for more efficient land use and increased agricultural profits. Effect: Privatization of land, displacement of poor farmers, and increased agricultural productivity.

Cause: Need to improve soil fertility and increase agricultural output. Effect: Increased food production, supporting population growth.

Cause: Increased trade opportunities, exploration, and new financial innovations. Effect: Rise of a merchant class, urbanization, and shifts in social structures.

Cause: Increased money supply due to influx of silver and gold from the Americas and population increase. Effect: Inflation, decline in real wages, and social unrest.

Cause: Desire for profitable trade routes to East Asia. Effect: Dutch Republic became super rich, establishing a global trade network.

Cause: Increased economic opportunities in trade and finance. Effect: A new social group with increasing economic power emerged, influencing social and political structures.

Cause: More food availability and opportunities in cities. Effect: Cities became hubs of economic activity and social change, leading to the rise of the middle class.

Cause: Environmental changes. Effect: Delayed marriages and childbearing, slowing population growth and easing economic burdens.

Cause: Need for financial stability and efficient banking practices. Effect: It set the standard for modern central banking and promoted financial stability.

A system where every transaction is recorded twice (debit and credit) to ensure accuracy.

A 17th-century bank that set the standard for modern central banking.

The world's first multinational corporation, focused on trade between the Dutch and East Asia.

A company that held a monopoly on East Asian trade for the English, boosting their empire's wealth.

The practice of rotating crops to boost productivity and make more food available.

The privatization of public lands, benefiting landowners but disadvantaging the poor.

Landowners had indefinite ownership rights, giving them long-term control and profit potential.

A period of high inflation caused by the expanding market economy and increased population.

Associations of craftsmen or merchants formed to protect their economic interests and maintain standards.

The transfer of plants, animals, culture, human populations, technology, diseases, and ideas between the Americas, West Africa, and the Old World in the 15th and 16th centuries.