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nikklg [1K]
1 year ago
8

How did the new world discovery build an interdependent global economic system? what were the distinctive roles played by europe

, africa, and america in this new system? europe:
Business
1 answer:
Anna35 [415]1 year ago
7 0

New world discovery build an interdependent global economic system where each continent relied on the others to thrive. Role of Europe was to supply markets, capital, technology, Africa was to supply labor and America supplied raw materials (like metal and soil for sugar cane)

More about interdependent economic system:

Economic interdependence refers to the mutual reliance of those involved in an economic system who trade in order to receive the goods they are unable to create effectively on their own.

Such trading connections demand that a participant's actions have an impact on its trading partners, and it would be expensive to end the relationship.

Learn more about interdependent economic here:

brainly.com/question/4745456

#SPJ4

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Voluntary exchanges happen when both parties expect to
zimovet [89]
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If your in K12, the answer is gain.


5 0
3 years ago
In an eight-hour day Nicolas can catch 24 pounds of fish or he can repair 15 cars. In an eight-hour day Alejandro can catch 27 p
Roman55 [17]

Answer:

Explanation:

Here Nicolas will gain comparative advantage only when he is selling the good he is specializing in and he would specialize in that good which would have lower opportunity cost for him. So the first step that we have to do here is to find out for which good Nicolas will have lower opportunity cost.

For Nicolas who in 8 hours can either catch 24 pound of fish or repair 15 cars,

the opportunity cost for catching 1 fish is = 15/24 = .625

the opportunity cost for repairing 1 car is = 24/15 = 1.6

So from the above observation we can say that for Nicolas catching fish has lower opportunity cost for him , so he should specialize in catching fish.

Therefore the term of trade for Nicolas would be

1 fish = .625 cars ,

if he can catch and sell 100 units worth of fish then he would have to give up 62.5 cars and then only he will gain from trade,

1 x 100 fish = .625 x 100

100 fish = 62.5 cars.

8 0
3 years ago
Read 2 more answers
Why is it important to empathize with your user?
fredd [130]

Answer:

Empathy is important because it awakens our senses as designers.

7 0
3 years ago
Ivanhoe Company issued $1520000 of 6%, 5-year bonds at 95, which pay interest annually. Assuming straight-line amortization, wha
Mashutka [201]

Answer:

the journal entry to record bond issuance:

Dr Cash 1,444,000

Dr Discount on bonds payable 76,000

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amortization of discount on bonds payable = $76,000 / 5 = $15,000

coupon payment = $91,200

total interest expense per year = $106,200

total interest expense for the 5 year period = $106,200 x 5 years = <u>$531,000</u>

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6 0
3 years ago
When workers are able to augment their stock of human capital, they can expect to?
ankoles [38]

Answer:

(receive higher wages that reflect an increase in their value of marginal product.)

3 0
1 year ago
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