ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Old World consists of the continents of Europe, Asia, and Africa. The New World refers to North America and South America.

Detailed explanation-2: -Generally, Old World history focuses on past events in Africa, Asia, and Europe-continents with ancient beginnings and places known before the exploration of the Americas. In contrast, New World history focuses on North America, Central America, and South America.

Detailed explanation-3: -On his voyages, Amerigo believed he was sailing to Asia. Finally he discovered that it was a New World not Asia. He wrote letters to a friend at home filled with maps of the eastern coast of South America. Years later, Amerigo’s letters were used by a French mapmaker who was making a map of the world.

Detailed explanation-4: -Old World refers to Europe, Africa, and Asia, while New World refers to North America, South America, and the Caribbean.