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Let me tell you about the big change that happened in the European states, it all started when.....
Section 13.6 ~ Transformation of European Economies
The European states that engaged in long-distance trade created new economic strategies.
The Spanish, Portuguese, Dutch, English, and French merchants who shipped goods among Europe, the Americas, Africa, and Asia were merchant capitalists.
Capitalism is an economic system in which all resources are privately owned and markets determine how those resources are distributed
Mercantilism is often viewed as an early form of capitalism.
In the late 1600s and early 1700s, however, consumer demand shifted away from luxury goods. Europeans imported greater amounts of sugar and tobacco from the Americas, tea and textiles from Asia.
And that's how everything changed Europe!
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