The Origins of the Current Global Economic System Are Found

question 43

Multiple Choice

The origins of the current global economic system are found in the late 1400s,when China was the world leader in the production and export of goods such as silk and hard goods.The result of this position created what problem that fostered European exploration of the Americas?

• A) currency surplus,with vast reserves held by the ruling elite
• B) trade deficit,with exports vastly exceeding imports
• C) gold shortage,with an inability to pay off international debts
• D) labor shortage,leading to a strong demand for slave labor

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Definitions:

Social Force

Factors within society that influence and shape individual behavior, norms, and societal structures.

Limited Mobility Patients

Refers to individuals who experience difficulty in moving or walking freely due to physical disabilities, illnesses, or age-related conditions, often requiring assistive devices or support.

Environmental Trends

Patterns and changes in the natural and built environment that impact business practices and consumer behaviors, such as climate change and sustainability concerns.

Laissez-Faire Policy

An economic policy promoting minimal governmental intervention in the private sector, allowing businesses to operate freely.