Question

Which of the following correctly analyzes the ways in which new systems of trade impacted the global economy?(1 point) Responses New economic ideas like mercantilism and capitalism enriched European economies. New economic ideas like mercantilism and capitalism enriched European economies. Silver mines contributed to the wealth of South American economies. Silver mines contributed to the wealth of South American economies. Chinese dynasties in Asia lost wealth from global trade. Chinese dynasties in Asia lost wealth from global trade. West African trading empires gained power as new resources became available.

Answer 1

The correct analysis of the ways in which new systems of trade impacted the global economy would be:

New economic ideas like mercantilism and capitalism enriched European economies.

This response captures the broader impact of these new economic ideas on European nations, highlighting how they exploited trade opportunities to enhance their wealth and global influence.

The other statements also reflect aspects of the global trade dynamics but may not comprehensively or accurately depict the overall impact on the global economy in the same way. For example, while silver mines did contribute to the wealth of South American economies, they primarily enriched European powers through trade. The statement about Chinese dynasties losing wealth simplifies a more complex reality where they experienced both gains and losses depending on context. Lastly, West African trading empires did gain power, but again, this is a narrower view of the broader economic landscape.