Which statement best analyzes the economic impact of Muslim trade on Europe?(1 point)ResponsesArab nations adopted the roman numeral system to standardize accounting practices.Arab nations adopted the roman numeral system to standardize accounting practices.Muslim trade contributed to the growth of the merchant class and commercial economy in Europe.Muslim trade contributed to the growth of the merchant class and commercial economy in Europe.European nations exported silk through Arab merchants.European nations exported silk through Arab merchants.Muslim trade led to European nations adopting Islam as their state religion.
Muslim trade contributed to the growth of the merchant class and commercial economy in Europe.
The statement that best analyzes the economic impact of Muslim trade on Europe is: "Muslim trade contributed to the growth of the merchant class and commercial economy in Europe."
The statement that best analyzes the economic impact of Muslim trade on Europe is: "Muslim trade contributed to the growth of the merchant class and commercial economy in Europe."
Muslim trade had a significant impact on the economic development of Europe during the medieval period. Several factors contributed to this impact:
1. Expansion of Trade Routes: Muslim traders established extensive trade routes that connected Europe with Asia, Africa, and the Middle East. These routes facilitated the exchange of goods, ideas, and technologies, stimulating economic growth in Europe.
2. Introduction of New Goods: Muslim traders brought a wide variety of goods from distant lands to Europe, including spices, textiles, perfumes, precious metals, and ceramics. The availability of these exotic goods created new markets and increased demand, stimulating economic activity.
3. Development of the Merchant Class: The flourishing trade with Muslim nations led to the emergence of a wealthy merchant class in European cities. These merchants played a crucial role in the expansion of trade networks, financing expeditions, and investing in businesses, contributing to the growth of the commercial economy.
4. Influence on Banking and Finance: Muslim traders introduced new financial practices to Europe. They utilized systems such as partnerships, credit, and bills of exchange (similar to checks) to facilitate trade. These financial innovations helped to streamline economic transactions and promote economic growth.
Therefore, the statement that Muslim trade contributed to the growth of the merchant class and commercial economy in Europe is the most accurate analysis of the economic impact.