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ECONOMIC CHANGES IN THE 18TH CENTURY - Coggle Diagram
ECONOMIC CHANGES IN THE 18TH CENTURY
Reforms introduced by enlightened monarchs led to important changes in all sectors of the economy
Harvests improved because of
new agricultural techniques
new crops
Craft production
It increased because of population growth
The guilds also had to compete with new systems of production
Domestic system of production became very important
Royal manufacturers produced various luxury goods
Economic reforms in Spain
The Spanish economy experienced growth
Thanks to the sociedades económicas de amigos del país scientific, economic and technical studies were carried out
Some of the most important reforms were in
craft production
royal manufacturers were established
trade
internal customs duties were eliminated
free trade with America was established
agriculture
canals were built to facilitate irrigation
uninhabited areas were colonised
Luxury-goods manufacturers
Created luxury goods that were
Used to decorate royal palaces
Such as
tapestries
rugs
clocks
porcelain
lamps
Bought by nobility and wealthy bourgeoisie
Trade
Domestic trade
Monarchs increased domestic trade by
improving roads and building new ones
building canals to connect river systems and modernising ports
International trade
It grew due to increased exchanges of goods between Europe and America
The Atlantic Ocean was the most important trading zone
Trade was mainly controlled by the British
Trade routes in the Indian Ocean were controlled by
France
It was expelled from India in 1763
the United Provinces
Great Britain
The expansion of global trade was carried out through private companies
Example
the British East India Company
