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