How did the Columbian Exchange impact the global economy?(1 point)
Responses
It sparked new industries and economic growth in both the Old World and the New World
It sparked new industries and economic growth in both the Old World and the New World
It had no significant impact on global economy
It had no significant impact on global economy
It caused economic stagnation and reduced international trade
It caused economic stagnation and reduced international trade
It led to the decline of trade between Europe and Asia
It sparked new industries and economic growth in both the Old World and the New World
It sparked new industries and economic growth in both the Old World and the New World.
The correct answer is: It sparked new industries and economic growth in both the Old World and the New World.
To arrive at this answer, we can examine the impact of the Columbian Exchange on the global economy. The Columbian Exchange refers to the widespread transfer of plants, animals, diseases, and culture between the Americas and the rest of the world that occurred after Christopher Columbus' voyages in the late 15th century.
The Columbian Exchange had a significant impact on the global economy by introducing new resources and products to different regions. For example, crops like potatoes, tomatoes, and corn were introduced to Europe and became major staples in their diet. This led to increased agricultural productivity, which in turn fueled population growth and urbanization.
In the New World, the arrival of livestock such as horses, cattle, and pigs from Europe led to the development of ranching and the growth of new industries like the fur trade. Additionally, the discovery of precious metals, particularly silver, in the Americas caused a massive influx of wealth into Europe, which facilitated the growth of capitalism and financed economic expansion.
Overall, the exchange of resources and products between the Old World and the New World sparked new industries and economic growth in both regions, marking a significant impact on the global economy.