Which of the following correctly analyzes the ways in which new systems of trade impacted the global economy?(1 point) Responses West African trading empires gained power as new resources became available. West African trading empires gained power as new resources became available. Chinese dynasties in Asia lost wealth from global trade. Chinese dynasties in Asia lost wealth from global trade. New economic ideas like mercantilism and capitalism enriched European economies. New economic ideas like mercantilism and capitalism enriched European economies. Silver mines contributed to the wealth of South American economies.
New economic ideas like mercantilism and capitalism enriched European economies.
The correct option that correctly analyzes the ways in which new systems of trade impacted the global economy is:
New economic ideas like mercantilism and capitalism enriched European economies.
To determine the correct answer, we need to analyze each option and eliminate the ones that are incorrect.
Option 1 states that West African trading empires gained power as new resources became available. While this could be true, the option is duplicated, appearing twice, so we can eliminate it as a valid option.
Option 2 states that Chinese dynasties in Asia lost wealth from global trade. While it is true that China experienced some economic decline during certain periods due to global trade, it was not a universal trend. Therefore, we cannot consider this option as the correct answer.
Option 3 states that new economic ideas like mercantilism and capitalism enriched European economies. This option correctly identifies the impact of these economic systems on Europe. Mercantilism, a doctrine practiced by European nations during the Age of Exploration, focused on accumulating wealth through global trade and colonization. Capitalism, an economic system that emphasizes private ownership and free markets, also contributed to Europe's economic growth during this time. Therefore, we can consider this option as the correct answer.
Option 4 states that silver mines contributed to the wealth of South American economies. While it is true that silver mines in South America, such as those in Potosi (present-day Bolivia), played a significant role in the Spanish empire's global trade and contributed to the wealth of the region, this option does not analyze the overall impact of new systems of trade on the global economy. It only focuses on one aspect of it. Therefore, we cannot consider this option as the correct answer.
In conclusion, the correct answer is:
New economic ideas like mercantilism and capitalism enriched European economies.
The correct answer is:
- New economic ideas like mercantilism and capitalism enriched European economies.
- Silver mines contributed to the wealth of South American economies.