Question

how did various European companies tried to eliminate their competition

Answer 1

Answer:

Competition policy in Europe is a vital part of the internal market. Its aim is to provide everyone in Europe with better quality goods and services at lower prices. Competition policy is about applying rules to make sure companies compete fairly with each other. This encourages enterprise and efficiency, creates a wider choice for consumers and helps reduce prices and improve quality. These are the reasons why the EU fights anticompetitive behaviour, reviews mergers and state aid and encourages liberalisation.

Answer 2

$</p><p> </p><p> <div style="</p><p> font-family: Cursive;</p><p> background-image: radial-gradient(circle at 77% 26%, rgba(175, 175, 175,0.06) 0%, rgba(175, 175, 175,0.06) 4%,transparent 4%, transparent 100%),radial-gradient(circle at 37% 90%, rgba(129, 129, 129,0.06) 0%, rgba(129, 129, 129,0.06) 55%,transparent 55%, transparent 100%),radial-gradient(circle at 7% 92%, rgba(53, 53, 53,0.06) 0%, rgba(53, 53, 53,0.06) 39%,transparent 39%, transparent 100%),radial-gradient(circle at 65% 17%, rgba(128, 128, 128,0.06) 0%, rgba(128, 128, 128,0.06) 60%,transparent 60%, transparent 100%),radial-gradient(circle at 100% 39%, rgba(75, 75, 75,0.06) 0%, rgba(75, 75, 75,0.06) 20%,transparent 20%, transparent 100%),radial-gradient(circle at 92% 34%, rgba(205, 205, 205,0.06) 0%, rgba(205, 205, 205,0.06) 35%,transparent 35%, transparent 100%),radial-gradient(circle at 63% 90%, rgba(98, 98, 98,0.06) 0%, rgba(98, 98, 98,0.06) 62%,transparent 62%, transparent 100%),radial-gradient(circle at 93% 74%, rgba(130, 130, 130,0.06) 0%, rgba(130, 130, 130,0.06) 65%,transparent 65%, transparent 100%),linear-gradient(90deg, rgb(18, 233, 78),rgb(160, 239, 92));</p><p> padding:50px 5px;</p><p> text-align: center;</p><p> font-family:Monoscape;</p><p> "></p><p> </p><p> <span style="text-align: center; border-bottom:2px double #460eff; color: #460effff; ">Solution To Your Question &#x2193;</span> </p><p> </p><p> <p style="color: white;</p><p> text-shadow:0px 0px 10px #eb7c7c;</p><p> padding: 20px;</p><p> text-align: center;</p><p> font-weight: 400; "></p><p></p><p>1600, Queen Elizabeth; the ruler of England; gave a charter to the East India Company. The charter granted the Company the sole right to trade with the East and no other English trading group could compete with it in the East. In those days, mercantile trading companies made profit mainly by excluding competition. Lack of competition enabled them to buy cheap and sell dear.</p><p></p><p>But the royal charter could not prevent trading companies from other European nations from entering the Eastern markets. It is important to mention that Vasco da Gama had discovered the sea route to India via the Cape of Good Hope; and he was a Portuguese. Hence, before the arrival of the British, the Portuguese had already established their presence in the western coast of India. They had their base in Goa. The Dutch began to explore the possibilities of trade in the Indian Ocean by the early seventeenth century. The French followed in quick succession.</p><p></p><p>India produced fine qualities of cotton and silk which had a big market in Europe. Various spices from India; like pepper, cloves, cardamom and cinnamon; were also in great demand in Europe. All the European companies were interested in buying these things which resulted in a price rise of these items. Thus, the potential profit reduced. Eliminating the rival competitors was the only way for a trading company to flourish. The intense competition to hold a monopoly resulted in fierce battle between the trading companies. Trade was carried on with arms, and fortifications were done to protect the trading posts.</p><p></p><p>East India Company begins trade in Bengal</p><p></p><p>The East India Company set up its first factory on the banks of river Hugli in 1651. The warehouse was called the factory and the Company’s traders were known as “factors. With the growth in trade, the Company persuaded merchants and traders to settle near the factory. The Company began to build fort around the settlement by 1696. It also got zamindari rights over three villages within two years by bribing the Mughal officials. One of these villages was Kalikata which subsequently developed into the city of Calcutta. The Company also convinced the Mughal emperor Aurangzeb to grant the Company the right to trade duty free. But some of the Company officials carried on private trade on the side; without paying the duty. This caused enormous loss of revenue for Bengal.</p><p></p><p>How trade led to battles</p><p></p><p>After the death of Aurangzeb, the Bengal nawabs began to assert their power and autonomy. Murshid Quli Khan, Alivardi Khand and Sirajuddaulah became the Nawab of Bengal in succession. They refused concessions to the Company, demanded large tributes in lieu of Company’s right to trade. They denied the Company any right to mint coins and stopped it from extending its fortifications.</p><p></p><p>The Company, on the other hand, declared that the local officials used to make unjust demands. It was ruining the trade and removal of duties was necessary for the trade to flourish. The Company also wanted to enlarge its settlement and to rebuild its forts so that it could expand trade.</p><p></p><p>Thus, the conflicts between the nawab and the Company increased during the early eighteenth century.</p><p></p><p> </p><p> &#128513; Hope You Liked It &#128513;</p><p> </p></p><p> </p><p> <marquee style="color:#fff;"> <b>Mark Me as the brainliest and Follow Me &#128151;</p><p> </p><p> </b></marquee></p><p> </p><p> </p><p> </p><p> </div></p><p> </p><p> </p><p>$