Question

Answer the following question in detail.
1. What was the impact of mercantilism on expansion of trade in Europe?
2. What were the consequences of the discovery of a new trade route to India in the 15th century?

Answer 1

Answer:

Answer 1-.Mercantilism did, however, lead to the adoption of enormous trade restrictions, which stunted the growth and freedom of colonial business. In "Wealth of Nations", father of modern economics Adam Smith argued that free trade -- not mercantilism -- promotes a flourishing economy.

Answer 2-The following are the consequences of the discovery of new trade routes to India in the 15th century : The trade for Indian precious goods like silk, opium, textiles, spices, gems, stones, metals, etc. with the Western world started. In return for the goods took from India, hand made goods flowed from western nations.

Answer 2

▶️Question ◀️

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===>What was the impact of mercantilism on expansion of trade in Europe?

===>uropean countries used the theory to justify their colonization of the new world. Mercantilism established the idea that the government should actively regulate the economy. Mercantilism converted colonies into collection zones of natural resources. To supply these resources, massive amounts of labor were needed.

===>2. What were the consequences of the discovery of a new trade route to India in the 15th century?

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The following are the consequences of the discovery of new trade routes to India in the 15th century : The trade for Indian precious goods like silk, opium, textiles, spices, gems, stones, metals, etc. with the Western world started. In return for the goods took from India, hand made goods flowed from western nations.