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They earned so much because they were the only ones who sold food and other things the miners needed and they could make the prices as high as they wanted.
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How much did medieval times merchants get paid?
Medieval merchants' earnings varied widely based on factors such as location, the type of goods they traded, and their social status. While some successful merchants in prosperous towns could amass significant wealth, others might earn modest incomes sufficient for a comfortable living. In general, larger-scale merchants engaging in long-distance trade could earn much more than local vendors, with profits often measured in percentages of their sales. Overall, the income of merchants was far from uniform and depended heavily on market conditions and individual enterprise.
The Portuguese in Brazil hoped to earn great profits from the?
Production of sugar.
When the colony was started the Dutch hoped to earn large profits from which economic activities?
When the Dutch established their colony, they aimed to earn large profits primarily through trade in valuable commodities such as spices, particularly nutmeg and cloves, as well as silk and sugar. The Dutch East India Company played a crucial role in this endeavor, seeking to control trade routes and establish monopolies over these lucrative goods. Additionally, they invested in agriculture and plantation systems to enhance production and export capabilities. Overall, the focus was on maximizing profits through both trade and agricultural exploitation.
When the colony was started the Dutch hope to earn large profits from which the following economic activities?
When the Dutch established their colonies, particularly in places like the East Indies, they aimed to earn large profits primarily through trade in spices, such as nutmeg, cloves, and cinnamon. They also focused on establishing lucrative trade routes and monopolizing the spice trade, which was highly sought after in Europe. Additionally, the Dutch engaged in the cultivation of sugar and tobacco, further enhancing their economic gains from these colonies.
Why did large plantation owners earn higher profits than small farmers?
Large plantation owners earned higher profits than small farmers primarily due to economies of scale. They could produce goods at a lower per-unit cost by leveraging larger land areas, more efficient labor, and advanced agricultural techniques. Additionally, their access to capital allowed for investment in machinery and technology, further enhancing productivity. This competitive advantage enabled them to dominate markets and secure higher profit margins compared to small farmers, who often faced higher costs and limited resources.
Merchants who took risks to earn high profits?
Entrepreneurs were merchants who took risks in the hope of high profits.
When the colony was started the Dutch hoped to earn large profits from economic activities?
The fur trade :)
When the colony was started the Dutch hoped to earn large profits from what economic activities?
The fur trade :)
When the dutch colony was started the dutch hoped to earn large profits from economic activities?
The fur trade :)
How do credit card companies earn profits?
Credit card companies earn profits by charging interest.
Why aren't entrepreneurs likely to earn large profits from their businesses over many years?
Because of the recession, overhead, and competition.
Which statements is true about profits in a monopolistically competitive market?
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
Why companies undersubscribed shares?
to earn profits
How much did medieval times merchants get paid?
Medieval merchants' earnings varied widely based on factors such as location, the type of goods they traded, and their social status. While some successful merchants in prosperous towns could amass significant wealth, others might earn modest incomes sufficient for a comfortable living. In general, larger-scale merchants engaging in long-distance trade could earn much more than local vendors, with profits often measured in percentages of their sales. Overall, the income of merchants was far from uniform and depended heavily on market conditions and individual enterprise.
Can a monopoly earn economic profits in the long run?
Yes
Does dentist earn profits?
yes, they dont work for free!
Is it true that entrepreneurs earn profits?
Some, but majority don't
