Economics affects our daily lives in both obvious and subtle ways. From an individual perspective, economics frames many choices we have to make about work, leisure, consumption and how much to save. Our lives are also influenced by macro-economic trends, such as inflation, interest rates and economic growth
C President Theodore Teddy Roosevelt
It contributed to the rise of the Ottoman Empire. When the Byzantine Empire ended, the Ottomans received a strong trade port affecting Mediterranean-black sea trade zones.<span />
- It had foreign spheres of influence.
- It failed to institute reforms.
- It avoided modernization.
I hope this helps :)
