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Explain Which Economic Theory Was Put Into Practice During The Age Of Exploration

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3. Which economic theory was put into practice during the age of exploration? The economic theory that was put into practice during the age of exploration was mercantilism. Mercantilism was the belief and thought that a nation’s prosperity depended entirely on a large supply of gold, bullion, and silver. So, the government tried to encourage exports by granting subsidies, which were payments made to enterprises that the government found beneficial to the nation. The government also improved transportation systems and put high taxes on foreign goods to keep the balance of trade favorable. Overall, due to mercantilism, European colonies were viewed important because they were the main source for manufactured goods. 7. Write a paragraph describing
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Government contributed to the economic profitability of Britain. This salutary neglect contributed involuntarily to the increasing the colonial legal and legislative institutions, which ultimately led to American independence. Raw materials from colonies that also served as a market for English made goods the English government adopted the navigation acts

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The Age of Exploration occurred from 1400 to 1700 C.E. It is famously known as the Age of Exploration because it was a time when explorers from Europe travelled by sea to explore west of them, and make many geographical advances. Exploration was motivated by gold, glory, and God. Along with their motivation, the Europeans also wanted to find trading partners, new goods, new trade routes, and simply find new land. With exploration, there were many good effects and many bad ones.

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The Age of Exploration, starting from the 15th century and lasting until the beginning of the 17th century, was a period of time in which the Europeans explored the Americas and Africa while searching for a more efficient trade route with Asia. However, the Europeans did not just discover this lands, but also made use of them and the native population. The causes of the Age of Exploration were “God, Gold and Glory” which effects were the expansion of Christianity, importation of precious resources into Europe and colonization of new lands. The first cause of the Age of Exploration was “God” which resulted in an expansion of Christianity.

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