The Following Questions Refer to the Excerpt Below

question 1

Multiple Choice

The following questions refer to the excerpt below.
"In the middle of the fifteenth century,Europe,Africa,and the Americas came together,creating-among other things-a new economy.At the center of that economy was the plantation,an enterprise dedicated to the production of exotic commodities-the most prominent being sugar-for a distant market.The sugar plantation,which first developed in the Mediterranean,was an enormously complex unit of production requiring the mobilization of vast amounts of capital,the development of new technologies (agricultural,industrial,and maritime) ,the invention of management techniques,and-because sugar production was extraordinarily labor intensive-the employment of huge numbers of workers."
Historian Ira Berlin,"The Discovery of the Americas and the Transatlantic Slave Trade"
-Which of the following historical events did not precede the events described by historian Ira Berlin?

• A) Europeans introduced indentured servitude into the Americas.
• B) The Spanish and Portuguese partnered with West African nations to exploit labor sources.
• C) European improvements in trade and navigation led to economic changes.
• D) Indian societies on the American eastern seaboard settled in permanent villages.

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Definitions:

Sales

The exchange of goods or services for money, representing the primary source of revenue for most businesses.

Fixed Asset Account

A financial account that tracks the cost and depreciation of assets a company uses over a long period.

Pro Forma Statement

An estimation or projection of future financial performance based on a company's current financial position and expected future transactions.

Capacity Utilization

The percentage of a business or industry's total possible production capacity that is actually being utilized.