The Developing Westward Orientation of European Colonial and Commercial Ambitions

question 44

Multiple Choice

The developing westward orientation of European colonial and commercial ambitions during the fifteenth century was a consequence of:

• A) the growing importance to Europe of the African gold trade.
• B) the shutting down of the Silk Road as a result of the breakup of the Mongol empire.
• C) Ottoman control over the eastern Mediterranean and the Black Sea.
• D) demand for Atlantic salted codfish within Europe.
• E) the persistent threat posed by the Mongol empire in eastern Europe.

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Definitions:

Cycle Counting

A method of inventory verification where a select portion of the stock held in a particular area is tallied on a predetermined day.

Inventory Records

Documentation of the quantities, locations, and statuses of products or materials that a company holds in stock.

Inventory Turnover

Cost of goods sold divided by average inventory.

Safety Stock

Inventory kept on hand as a buffer against supply or demand uncertainties, ensuring that stockout situations are minimized.