ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Atlantic slave trade used a system of three-way trans-Atlantic exchanges – known historically as the triangular trade – which operated between Europe, Africa, and the Americas from the 16th to 19th centuries.

Detailed explanation-2: -The triangular trade was the three-legged route that made up the Atlantic slave trade. The trade traffic flowed to and from three general areas on either side of the Atlantic Ocean. These areas form a rough triangle when viewed on a map. They were in Europe, Africa, and the Americas.

Detailed explanation-3: -Mercantilism led to the emergence of what’s been called the “triangular trade”: a system of exchange in which Europe supplied Africa and the Americas with finished goods, the Americas supplied Europe and Africa with raw materials, and Africa supplied the Americas with enslaved laborers.

Detailed explanation-4: -Merchants who traded in this way could get very rich indeed as American goods fetched a high price in Europe.It was called the triangular trade because of the triangular shape that the three legs of the journey made. The first leg was the journey from Europe to Africa where goods were exchanged for slaves.

Detailed explanation-5: -three stages of the so-called triangular trade, in which arms, textiles, and wine were shipped from Europe to Africa, enslaved people from Africa to the Americas, and sugar and coffee from the Americas to Europe.