USA HISTORY

Detailed explanation-1: -Even though the people of Europe and the United States were enjoying a rising standard of living, they could not possibly buy all the goods being manufactured. Therefore, industrialists needed new markets for their goods. They began to look to Asia, Africa, and Latin America as markets for their excess production.

Detailed explanation-2: -During this time, many European countries expanded their empires by aggressively establishing colonies in Africa so that they could exploit and export Africa’s resources. Raw materials like rubber, timber, diamonds, and gold were found in Africa. Europeans also wanted to protect trade routes.

Detailed explanation-3: -Western colonialism, a political-economic phenomenon whereby various European nations explored, conquered, settled, and exploited large areas of the world.

Detailed explanation-4: -Colonies not only provided sources of valuable raw materials (diamonds, gold, timber, oil, rubber, and many others) for the imperial power, their populations served as markets for the industrial products made in the home country.