Question

How were European economies impacted by trade with Asia?(1 point) Responses They made millions through the sale of luxury goods. They made millions through the sale of luxury goods. They experienced economic depression due to their own goods being devalued. They experienced economic depression due to their own goods being devalued. They grew wealthy and purchased many artistic and luxury goods. They grew wealthy and purchased many artistic and luxury goods. They were motivated to form permanent colonies in Asia after growing immense wealth

Answer 1

European economies were significantly impacted by trade with Asia, primarily by growing wealthy and purchasing many artistic and luxury goods. The influx of valuable goods from Asia, such as silk, spices, and other luxury items, not only enriched European merchants and economies but also sparked cultural exchanges and heightened demand for these exotic products.