The year 1492 marks a watershed in modern world history. Columbus's voyage of discovery inaugurated a series of developments that would have vast consequences for both the Old World and the New. It transformed the diets of both the eastern and western hemispheres, helped initiate the Atlantic slave trade, spread diseases that had a devastating impact on Indian populations, and led to the establishment of European colonies across the Western Hemisphere.
This section identifies the factors--including rapid population growth, commerce, new learning, and the rise of competing nation-states--that encouraged Europeans to explore and colonize new lands. It explains why Portugal and Spain were the first to become involved in overseas exploration and why England and France were slow to challenge Spain’s supremacy in the Americas.
Answer:
Prices are often volatile due to inelastic demand. e.g if there is a ‘good harvest’, supply will increase and there will be a fall in the price of primary products. However, because demand is inelastic, this would lead to a fall in revenue.
coffee-supply-price-growers
The volatile price of coffee – can make planning difficult.
Supply can also be volatile due to weather and disease. For agricultural crops, there is always a risk of crop failure, which could cause economic hardship in one particular year.
Limited resources. One day developing economies may run out of its finite primary products, e.g. precious metals could become scarce. Without diversification, this would leave the economy with a void.
Discourages investment in other aspects of the economy. Concentrating on primary products does not always help the long-term development of an economy because it can contribute towards a lack of investment in other aspects such as education and industrial production. Comparative advantage can change over time. It’s important to not just look at the present comparative advantage, but prospects for next 10 or 20 years.
There is a low-income elasticity of demand for primary products. With a rise in global income, there is a proportionately smaller percentage rise in demand for primary products. (agricultural products tend to be income inelastic). Therefore, if you produce primary products, you may see lower rates of economic growth than countries who produce manufacturing goods – which are more income elastic. The Prebisch-Singer hypothesis suggests that countries who concentrate on primary products are vulnerable to a declining terms of trade.
There are 5 points
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Answer:
Negation = Pn ¬q
Contrapositive = ¬q = ¬p
Converse = q=p
Inverse = ¬p = ¬q
Explanation:
If today is new year's, then tomorrow is January.
Let P = If today is new year's eve
q = tomorrow is January
Negation of q = ¬q
The statement is represented as P=q
Negation ; today is new year's eve (p), then tomorrow is not January (¬q)
Negation = Pn ¬q
Contrapositive ; If tomorrow is not January (¬q), then today is not new year's eve(¬p)
¬q = ¬p
Converse ; If tomorrow is January, then today is new year's eve i.e if q then p
= q=p
Inverse ; if today is not new year's eve, then tomorrow is not January
if not p, then not q ; ¬p = ¬q
Answer:
U.S. dity notes, made from a blend of 75 percent cotton and 25 percent linen, may be more attractive to bacteria than other countries' currency.
Explanation:
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