Which of the following correctly analyzes the ways in which new systems of trade impacted the global economy?(1 point) Responses
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.
West African trading empires gained power as new resources became available. West African trading empires gained power as new resources became available.
Silver mines contributed to the wealth of South American economies. Silver mines contributed to the wealth of South American economies.
All of the options provided correctly analyze the ways in which new systems of trade impacted the global economy. Each statement highlights a specific region or economic concept and explains how it was affected by global trade.
The correct answer is: New economic ideas like mercantilism and capitalism enriched European economies.
To arrive at this answer, we need to analyze each option and determine which one correctly explains the impact of new systems of trade on the global economy.
Option 1: Chinese dynasties in Asia lost wealth from global trade.
This statement implies that Chinese dynasties experienced a decline in wealth due to global trade. However, there is no information provided about why or how this occurred. It is also worth noting that the question asks for a global impact, and this statement only mentions the impact on Chinese dynasties.
Option 2: New economic ideas like mercantilism and capitalism enriched European economies.
This statement correctly identifies the impact of new economic ideas, such as mercantilism and capitalism, on European economies. These economic systems promoted trade, entrepreneurship, and competition, leading to the accumulation of wealth and economic growth in Europe.
Option 3: West African trading empires gained power as new resources became available.
This statement suggests that West African trading empires benefited from the availability of new resources. While this may be true to some extent, it does not address the broader impact on the global economy.
Option 4: Silver mines contributed to the wealth of South American economies.
This statement acknowledges the role of silver mines in contributing to the wealth of South American economies. However, it does not address the impact on the global economy as a whole.
Considering these options, option 2 correctly explains how new systems of trade impacted the global economy. It recognizes the influence of economic theories like mercantilism and capitalism in enriching European economies.
The correct answer is:
- New economic ideas like mercantilism and capitalism enriched European economies.
- West African trading empires gained power as new resources became available.
- Silver mines contributed to the wealth of South American economies.