ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -One of the major motivating factors in the European Age of Exploration was the search for direct access to the highly lucrative Eastern spice trade. In the 15th century, spices came to Europe via the Middle East land and sea routes, and spices were in huge demand both for food dishes and for use in medicines.

Detailed explanation-2: -Merchants on the silk road transported goods and traded at bazaars or caravanserai along the way. They traded goods such as silk, spices, tea, ivory, cotton, wool, precious metals, and ideas.

Detailed explanation-3: -The spice trade involved historical civilizations in Asia, Northeast Africa and Europe. Spices such as cinnamon, cassia, cardamom, ginger, pepper, nutmeg, star anise, clove, and turmeric were known and used in antiquity and traded in the Eastern World.

Detailed explanation-4: -Over time these European trading companies developed into colonial empires. The East India companies of Europe came seeking the exotic products of Asia: silks, cottons, and precious commodities such as spices and aromatic products.

Detailed explanation-5: -The Spice Routes, also known as Maritime Silk Roads, is the name given to the network of sea routes that link the East with the West. They stretch from the west coast of Japan, through the islands of Indonesia, around India to the lands of the Middle East-and from there, across the Mediterranean to Europe.