Western civ

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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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