How did joint-stock companies lead to the development of one-crop economies in the colonies?
a.Many joint-stock companies established a monopoly on one cash crop in order to become profitable.
b.Many colonies sought to create one-crop economies because cultivating multiple cash crops was expensive.
c.Many joint-stock companies established one-crop economies based on agricultural practices and local farming techniques.
d.Many European monarchs established one-crop economies to reduce competition and increase profits.
a?
I also agree with A. As long as I get it right on my test.
I agree with A.
What led to the development of one-crop economies?
A. Joint-stock companies found profitability in monopolizing one cash crop.
B. One-crop economies were developed through slash-and-burn agricultural practices.
C. Colonies sought to reduce costs by concentrating on one cash crop rather than many.
D. European monarchs sought to reduce competition and increase profits through one-crop economies
its b for you
The correct answer is a. Many joint-stock companies established a monopoly on one cash crop in order to become profitable.
To arrive at this answer, we need to understand the concept of joint-stock companies and their impact on colonial economies. Joint-stock companies were business organizations that pooled the investments of multiple shareholders to fund exploration and colonization efforts. These companies sought to make profits by establishing monopolies on valuable resources or trade goods.
In the context of colonies, joint-stock companies would often establish plantations and focus on the cultivation of a specific cash crop, such as tobacco, sugar, or cotton. They did this to ensure that there was a high demand for their product and that they could control the supply, thus allowing them to charge higher prices. By creating a monopoly on a specific crop, joint-stock companies were able to realize significant profits.
This practice of establishing one-crop economies had a significant impact on the colonies. The focus on monoculture led to the exploitation of land and labor resources, as well as the neglect of diversifying agricultural practices. The colonies became economically dependent on these cash crops, which often led to the neglect of other industries and diversification in the economy. This reliance on a single crop made the colonies vulnerable to price fluctuations, market changes, and the potential impact of diseases or pests that could affect the specific crop.
In summary, joint-stock companies established monopolies on one cash crop, leading to the development of one-crop economies in the colonies.