The Columbian Exchange Was

question 152

Multiple Choice

The Columbian Exchange was

• A) the agreement that documented what Christopher Columbus would give to Spanish leaders in return for their sponsorship of his travel to the New World.
• B) the transatlantic flow of people, plants, animals, and germs that began after Christopher Columbus reached the New World.
• C) John Cabot's exploration of the New World, which brought more of the goods that Columbus had found back to the Old World.
• D) responsible for introducing food staples such as corn, tomatoes, and potatoes to the Americas.
• E) the first European market established in the New World, named for the man who founded it.

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Definitions:

Mixed Costs

Expenses comprising both fixed and variable components, changing in total with the level of activity but not proportionately.

Merchandising Firm

A business that purchases finished goods for resale in order to make a profit, differentiating itself from manufacturing firms and service firms.

Gross Margin

The difference between sales revenue and the cost of goods sold, expressed as a percentage of sales revenue.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted; a measure of profitability.