Although Europe Had Major Contacts with All Parts of the World

question 69

Essay

Although Europe had major contacts with all parts of the world after the sixteenth century,Islam had long been important in providing Africa with outside contacts through Muslim merchants.Using one example from the textbook,elaborate on this theme.

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Definitions:

Present Value

The present value is the current value of a future sum of money or stream of cash flows, discounted at a specified rate of interest.

Cash Flows

The total amount of money being transferred in and out of a business, serving as a measure of its financial health.

Contribution Margin

The amount that one unit contributes to profit. It is defined as price minus marginal cost.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, or insurance premiums.