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Question

Define and explain the significance:

compass

joint-stock company

mercantilism

favorable balance of trade

tariffs

subsidies

Solution

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Answered 2 years ago
Answered 2 years ago
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Europeans 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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