APFIVE Global Trade and European Economic Transformation
The expansion of global trade following the Age of Discovery most directly led to which of the following economic developments in Europe?
A
A retrenchment to isolated local economies with little influence from international trade dynamics.
B
The influx of wealth and new commodities from colonies spurred urbanization, capitalism, and the rise of joint-stock companies.
C
A static economic model that relied solely on traditional feudal production methods, ignoring global market trends.
D
An exclusive focus on agricultural self-sufficiency that discouraged commercial innovation and urban growth.
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