ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
North America, South America, and Africa
|
|
|
Europe, North America, and Africa
|
|
|
Europe, South America, and North America
|
|
|
Europe, Africa, Australia
|
Detailed explanation-1: -… early merchants prospered in the triangular trade of rum, molasses, and slaves between New England, Africa, and the West Indies.
Detailed explanation-2: -The third side of the triangle also included trade between the North American colonies and Europe. The colonies provided the raw materials that the Europeans needed to make the goods that they would then ship to Africa.
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: -During the so-called triangular trade that ensued from European colonization of Africa, slaves were purchased in West Africa, shipped to the Americas to produce cotton etc.