Define trade triangle and signify the implications of all three sides of the trade triangle
Answers
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Answer:Triangle trade is a historical term that refers to trade between three ports or areas. When a region has export goods that aren't required in the region from which its major imports come, triangular trade develops
Explanation:As a result, triangular trade offers a way to correct trade imbalances between the aforementioned regions.
The colonial molasses trade is a classic example. Merchants bought raw sugar (often in the liquid form of molasses) from Caribbean plantations and exported it to New England and Europe, where it was sold to rum distilleries. Sugar sales were used to buy rum, furs, and timber in New England, which were then exported to Europe by merchants.
Merchants bought Europe's manufactured products, such as tools and arms, with the proceeds from European sales.