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Question
Define and explain the significance:
compass
joint-stock company
mercantilism
favorable balance of trade
tariffs
subsidies
Solution
VerifiedAnswered 2 years ago
Answered 2 years ago
Step 1
1 of 7Europeans have known about the treasures of the East, such as spices, gems, and other products, which were coveted as trade items due to their high worth. If Europeans wanted to compete with foreign traders, they needed to travel securely to and from other countries. They needed better maps, navigational devices, ships, and other advanced technologies to accomplish this expedition.
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