How were European economies impacted by trade with Asia?

Question

A. They experienced economic depression due to their own goods being devalued
B. they made millions through the sale of luxury goods
C. they grew wealthy and purchased many artistic and luxury goods
D. they were motivated to form permanent colonies in Asia after growing immense wealth

Answer 1

The impact of trade with Asia on European economies can be best summarized by the option:

C. they grew wealthy and purchased many artistic and luxury goods.

Trade with Asia, particularly during the Age of Exploration and the subsequent periods, allowed European economies to access a plethora of luxury goods such as silk, spices, and porcelain. This trade significantly contributed to the wealth of European nations and led to increased consumption of these goods among the wealthy classes, fostering a demand for more unique and exquisite items. While other options touch on related aspects, C most accurately captures the overall economic impact of such trade during that period.