Colonization: Colonization refers to the process of establishing settlements or colonies in distant lands. European nations colonized different parts of the world during the fifteenth century.
Mercantilism: Mercantilism was an economic system prevalent during this time that aimed at increasing a nation's wealth through trade with other countries.
Technological Advancements: Technological advancements such as improved navigation tools (like astrolabes) and shipbuilding techniques (like caravels) played a crucial role in enabling European explorations.