What created favorable conditions for the development of a market economy in the 16th century?

The reason for the development of the market economy during this period was the large influx of goods from the New World and India. As you know, in the 15-16th centuries, Europeans made major geographical discoveries. In this connection, sea routes to America and India were opened. Thanks to this, the European markets have filled with exotic goods from new lands. In addition, huge reserves of gold and jewelry poured into Europe, which also caused the prices of all goods to rise. It is also worth noting that world trade has been formed since the 16th century.