Answer:
There were two causes that fostered maritime exploration sponsored by European states: on the one hand, mercantilism, and on the other, the spread of Islam in the Middle East.
Mercantilism was based on the fact that the economic well-being of states consisted of stocks of gold and silver. The theory assumed that the total wealth of a business is unchangeable, so that the profit of one signifies the inevitable loss of another. According to the theory, governments should have effective economic control by promoting the export and accumulation of precious metals, while reducing imports, especially through the use of excise duties. Thus, European nations began to promote maritime explorations, with the aim of finding new territories to exploit economically, as well as establishing new trade routes where to locate their products and generate greater wealth.
On the other hand, the expansion of Islam and the control of the Middle East by the Turks made the European nations have to look for new alternative routes to carry out trade, thus promoting the exploration of the seas.
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Firstly, many statistics are taken from a small group of people used to represent the general population. Say a news channel reported that 81% of teenagers in America were planning on going to a four-year college. This statistic is most likely taken from a randomly selected group of teenagers, and calculated with a margin of error. Because after all, it's nearly impossible to survey every single teenager in America. This can lead to some statistics that are not really representative of the actual percentage of people. This only gets more likely the larger the general population being "surveyed" is. Another reason is that the media is not always truthful with statistics. Things can be altered and not many people will notice. Hope this helps!
The supply curve will be composed of the following points
(10, 1000) from the statement: 1000 shoes in the market at $10
(25, 1200) from the statement: 12000 shoes at $25 per pair
(40, 1400) from the statement: <span>$40 per pair, the existing firms increase production to 1400 each</span>
