Refers to the economic systems, industries, trade networks, and financial activities in countries located in Western Europe (such as France, Germany, Italy) during a specific time period.
Related terms
Gross Domestic Product (GDP): The total value of goods and services produced within a country's borders in a specific time period.
Trade Networks: Systems that connect different regions or countries for the purpose of exchanging goods, services, or ideas.
Industrialization: The process of transforming an economy to rely more on manufacturing and industry rather than agriculture.