Advances in technology
Compass originated in china during the Han Dynasty.
Compass originated in china during the Han Dynasty.
An astrolabe is a two-dimensional model of the celestial sphere. The name has its origins from the Greek words astron and lambanien meaning "the one who catches the heavenly bodies. An astrolabe is an instrument that once was the most used, multipurpose astronomical instrument. They learned to use this from the Muslims and it allowed them to calculate their location based on the position of the sun and stars in relation to the horizon.
Ship building was also an advancement during this time. Deep draft ships sat lower in the water and were capable of handling heavier waves. They also had larger cargo holds. The Caravel was a light fast sailing ship. It could also be equipped with weapons including cannons.
Mercantilism At the heart of mercantilism is the view that maximizing net exports is the best route to national prosperity. Boiled to its essence mercantilism is “bullionism”: the idea that the only true measure of a country’s wealth and success was the amount of gold that it had. If one country had more gold than another, it was necessarily better off.
Subsidies or grants of money to help business people start new industries.
Capitalism Most economic activity is carried on by private individuals or organizations in order to seek a profit. Individuals not just the government began to amass great fortunes through overseas trade.