FIRST CONTACTS 28000 BCE 1821 CE
THE COLUMBIAN EXCHANGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They could get as much gold and silver as they could
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They could sell more goods than what they buy
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Either A or B
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None of the above
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Detailed explanation-1: -Mercantilism held that only a limited amount of wealth, as measured in gold and silver bullion, existed in the world. In order to gain power, nations had to amass wealth by mining these precious raw materials from their colonial possessions.
Detailed explanation-2: -Key Takeaways. Imperialism is when a country extends its power into other territories for economic or political gain. The goal of imperialism is to acquire resources, often through exploitation and force. Motives for imperialism include economic, cultural, political, moral, and exploratory control.
Detailed explanation-3: -One way to help a country grow its wealth is to boost levels of labour, capital or both, but that doesn’t continue growth indefinitely. Technological advancements can make it easier to produce goods, increasing what is known as total factor productivity (TFP), a key part of economic growth.