The Price Revolution refers to the period in European history when inflation rose rapidly over a long period, and money devalued. This occurred from the late 15th century to the first half of the 17th century.
Imagine if your favorite candy bar that used to cost $1 suddenly costs $5. That's essentially what happened during the Price Revolution - prices for everyday goods skyrocketed.
Inflation: A general increase in prices and fall in the purchasing value of money.
Mercantilism: An economic theory that trade generates wealth and is stimulated by accumulation of profitable balances, which a government should encourage by means of protectionism.
Capitalism: An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and distribution determined mainly by competition in a free market.
Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.