Question

List four things that the European companies undertook to eliminate rival competitors during the 17th and 18th centuries.

Answer 1

Answer:

To eliminate competition from rivals during the 17th and 18th centuries the European companies started encouraging individuals and companies to develop better machinaries, incerase labour output which at last resulted in the industrial revolution in Europe.

Answer 2

Conflicts between the European trading companies

Explanation:

• The fine quality of Indian cotton and silk were wide demand across Europe. There was also big market and tremendous demand for garlic, cloven, cardamom and cinnamon. European competition inevitably boosted prices wherein these goods could be bought and the profits that could be earned considerably reduced. The only way to prosper for these trading companies was to remove rival competitors.
• Therefore, the need to protect markets led to fierce battles among trading companies. By the 17th and 18th centuries they sank each other's ship , the routes were blocked regularly and rival ships were prevented from moving with the goods supply. Trade was usually carried out with arms and trading posts were secured and protected by way of fortification.