History The Age Of Exploration Questions
The Age of Exploration had a significant impact on global trade and the economy. It led to the establishment of new trade routes and the discovery of new resources, which greatly expanded international trade. The exploration and colonization of new territories also resulted in the extraction of valuable resources, such as gold, silver, and spices, which boosted the economies of European nations. Additionally, the Age of Exploration stimulated the growth of banking and finance systems to support the financing of expeditions, trade ventures, and colonization efforts. The increased trade and economic activity during this period laid the foundation for the development of a global economy and the rise of capitalism.