ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fur traders could get a high price for furs.
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Fur trapping was a dangerous job.
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Either A or B
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None of the above
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Detailed explanation-1: -The fur trade provided Indigenous peoples with European goods that they could use for gift-giving ceremonies, to improve their social status and to go to war. The French forged military alliances with their Indigenous allies in order to maintain good trade and social relations.
Detailed explanation-2: -The fur trade drove European exploration and colonization. It helped to build Canada and make it wealthy. Nations fought each other for this wealth. But in many instances, the fur trade helped foster relatively peaceful relations between Indigenous people and European colonists.
Detailed explanation-3: -Fur was in great demand in Western Europe, especially sable and marten, since European forest resources had been over-hunted and furs had become extremely scarce. Fur trading allowed Russia to purchase from Europe goods that it lacked, like lead, tin, precious metals, textiles, firearms, and sulphur.
Detailed explanation-4: -The major trade goods were woollen blankets, cotton and linen cloth, metal goods, firearms and fishing gear. Tobacco, alcohol, trade jewellery and other luxury items accounted for only ten percent of the goods traded. The fur traders received far more than furs from Native people.