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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People bought more goods, which created a supply.
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People bought more goods, which created demand.
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Either A or B
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None of the above
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Detailed explanation-1: -People bought more goods, which created demand. Fewer resources were available, which increased demand for goods. Fewer resources were available, which decreased the supply of goods.
Detailed explanation-2: -Capitalist economies It leads to a small upper class of people having the most wealth and the growth of large corporations. This leads to economic inequality between rich and poor, which governments try to reduce by various social schemes, regulations and activities.
Detailed explanation-3: -The Scientific revolution refers to major technological changes that took place in Europe and paved the way for the rise of capitalism. The Revolution led to the expansion of commodity production which led to the development of internal trade that contributed to the industrial development thus the rise of capitalism.
Detailed explanation-4: -So, historians have used these two arguments to support the idea that capitalism ended slavery: First, they say wage labor was a better system and made free societies stronger than those that used enslaved labor. Second, they argue that people in capitalist, industrial societies were natural opponents of slavery.
Detailed explanation-5: -These include laissez-faire or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism.