Late-15th Century

Definition

The Late-15th Century refers to the period between 1470 and 1500, marking significant changes in European society, economy, and politics. This era was characterized by the rise of exploration, the emergence of global trade networks, and the beginning of the Renaissance, which collectively contributed to the development of global markets.

5 Must Know Facts For Your Next Test

1. The Late-15th Century saw major maritime explorations led by figures like Christopher Columbus and Vasco da Gama, which opened new trade routes to Asia and the Americas.
2. This period coincided with the fall of Constantinople in 1453, which shifted trade dynamics in Europe and encouraged exploration as countries sought alternative routes to Asia.
3. The invention of new navigational tools such as the astrolabe and advancements in shipbuilding made long-distance sea travel more feasible during this time.
4. The Late-15th Century marked the beginning of mercantilism, where nations sought to accumulate wealth through trade, leading to increased competition among European powers.
5. The establishment of overseas colonies began in this period, with Spain and Portugal leading the way, resulting in the exchange of goods, cultures, and ideas on a global scale.

Review Questions

• How did advancements in navigation and exploration during the Late-15th Century contribute to the development of global markets?
  • Advancements in navigation, such as improved maps and tools like the astrolabe, allowed European explorers to travel further and with greater accuracy. This led to discoveries of new trade routes and lands, significantly boosting commerce. The opening of these routes enabled countries to access exotic goods from Asia and new resources from the Americas, laying the groundwork for a more interconnected global market.
• In what ways did the cultural shifts during the Renaissance influence economic practices in the Late-15th Century?
  • The Renaissance inspired a shift towards humanism and individualism that encouraged entrepreneurship and innovation. Artists and thinkers began exploring new ideas about economics and trade. This cultural transformation promoted investment in commerce and led to the development of capitalist practices, which were essential for fostering vibrant global markets during this time.
• Evaluate the impact of European colonization on global trade patterns established during the Late-15th Century.
  • European colonization fundamentally altered global trade patterns by creating direct links between Europe and newly discovered lands in the Americas and Asia. As European powers established colonies, they exploited local resources and populations for profit. This not only fueled economic growth back in Europe but also initiated a complex system of trade that included commodities like sugar, tobacco, and spices. The consequences of these colonial ventures laid the foundation for modern global trade networks and had lasting effects on societies around the world.

Related terms

Renaissance: A cultural movement that began in Italy during the Late-15th Century, emphasizing humanism, art, and science, leading to a renewed interest in classical knowledge.

Age of Exploration: A period during the Late-15th Century when European powers explored new territories, seeking trade routes and resources, which significantly expanded global trade.

Commercial Revolution: A period of European economic expansion and increased commerce during the Late-15th Century, marked by the rise of capitalism and global trade networks.