PLEASE, PLEASE, PLEASE HELP!!! DUE IN 1 HOUR!!! WILL GIVE BRAILNIEST, 5-STAR RATING, AND THANK YOU!!!! 8 PTS GUARRENTEED, BUT HE
LPFUL ANSWERS EXTREMELY APPRECIATED!! PLEASE GIVE HELPFUL ANSWERS!! The Atlantic Economy in the Mid-Eighteenth Century
A) Briefly explain how overseas trade led to the emergence of new economic theories.
Overseas trade led to the emergence of new economic theories by encouraging the spread of ideas along with tangible goods. The merchants who traded the products brought their beliefs/ideas to new places and were also exposed to new ideas through trading.
Answer: The boom in commercial farm production eventually led to a bust in prices. As farmers grew more crops, sup- ply began to exceed demand, and thus prices fell. This is the economic law of supply and demand. If supply is more than demand, prices fall