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17.3- Changing Ways of Life. By : Raegan McDaniel, Darla Strader , Brandon “The Stud Muffin” Vatterott , Sierra Prince. The Commercial Revolution. Joint-Stock Companies- trading venture that sold shares to divide costs and profits.

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17 3 changing ways of life

17.3- Changing Ways of Life

By: RaeganMcDaniel, Darla Strader, Brandon “The Stud Muffin” Vatterott, Sierra Prince

the commercial revolution
The Commercial Revolution
  • Joint-Stock Companies- trading venture that sold shares to divide costs and profits.
  • Entrepreneurs- person who undertakes risks to establish a business.
  • Mercantilismwas a new theory that every nation would use to gain wealth
  • Europeansmeasured wealth in bullionor the amount of gold and silver the nation held
  • Nations gained wealth by mining gold and silver
  • Spain sent conquistadors to seize mines from America to attempt to gain wealth
  • Nations also began exporting more goods than goods imported
  • Monopolies began to grow in popularity
  • Colonies were ruled by parent countries
  • The purpose for the colonies was to help the parent countries become self sufficient
european daily life
European Daily Life
  • The Commercial Revolution:
    • Expanded Trade and the empire
    • Began to Surpass the nobility in both wealth and power
  • Hereditary Nobles:
    • Relied on rents from their lands for wealth
  • Rich Entrepreneurs:
    • Set trends in life styles
    • Often met at Coffeehouses
  • The Peasants:
    • Worked like animals
    • Lived in Hovels
    • Survived on a diet of water, black bread, and roots
a global exchange
A Global Exchange
  • Europe’s population grew rapidly
      • In 1450, 55 million people-by 1650, 100 million people
  • More demands on goods and services. This contributed to a worldwide exchange of:
    • People, goods, technologies, ideas, disease, culture, and religion.
  • Europeans brought wheat, grapes, and livestock to the Americas.
  • From Native Americans: corn, potatoes, tomatoes, beans, and chocolate.
  • From Asia and Africa: bananas, tea, sugarcane, ivory, perfumes, silk, and gems

Augsburg-The Fuggers Family was from Augsburg, Germany.

Florence- The Medici Family was from Florence, Italy.

additional information
Additional Information
  • Types of Coins: Groat, Halfgroat, Penny, Halfpenny, and Farthing
  • English Groat- made of Silver-coins measured 26mm in diameter and weighed approximately 3.5 grams
  • Groat was worth about 4 pence (plural for penny)
  • Halfgroat- worth 2 pence
  • 1Shillings=12 pence(3 groats)
  • 1 pound=20 shillings so 1 pound=240 pence
  • For a gallon of ale was about 0.75 pence
  • No paper money