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17.3- Changing Ways of Life

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

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  1. 17.3- Changing Ways of Life By: RaeganMcDaniel, Darla Strader, Brandon “The Stud Muffin” Vatterott, Sierra Prince

  2. 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.

  3. Mercantilism • 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

  4. 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

  5. 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

  6. Augsburg-The Fuggers Family was from Augsburg, Germany. Florence- The Medici Family was from Florence, Italy.

  7. 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

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