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How were the Silk Road and West African trade routes similar?
West Africans trade gold & silver apex learninng
Why did industrialist oppose the increased coinage of silver during the 19th century?
Industrialists opposed the increased coinage of silver during the 19th century primarily because they favored a gold standard, which was seen as more stable and conducive to economic growth. They believed that an increased supply of silver would lead to inflation, undermining the value of money and creating uncertainty in business transactions. Additionally, industrialists were concerned that a bimetallic standard would disrupt international trade and investment, as many countries adhered to the gold standard. This preference for a stable currency aligned with their interests in promoting industrial expansion and maintaining economic stability.
What were the most valuable trade items in west Africa?
salt or gold
Does UK trade with Canada?
Yes, mostly for our gold, metals and minerals.
What does the statement Salt and gold conquered much of West Africa. mean?
the trade of salt and gold led to the establishment of kingdoms
What is the significance of Havilah gold in ancient civilizations and its impact on trade and economy?
Havilah gold was highly valued in ancient civilizations for its rarity and beauty. Its presence in a region often led to increased trade and economic prosperity as it was used as a form of currency and for creating valuable objects. The trade of Havilah gold helped to establish economic connections between different civilizations and regions, contributing to the growth of economies and the development of trade networks.
How did Ghanas ruler benefit from controlling the gold salt trade?
Ghana's ruler imposed taxes on all the gold and salt passing through his kingdom.
What was it like after the California gold rush?
it was full of economic growth.
How did Ghanas kings keep the price of gold high?
Ghana's kings maintained high gold prices by controlling its supply and regulating trade. They strategically limited the amount of gold that was released into the market, ensuring that demand exceeded supply. Additionally, they established strict trade practices and imposed taxes on gold transactions, which further elevated its value. This control over the gold trade helped enhance the wealth and power of the kingdom.
What kind of effect would the Gold-Salt trade have had on Ghana Mali and Songhai?
Ghana's ruler imposed taxes on all the gold and salt passing through his kingdom.
How did the economic philosophy of mercantilism slow economic growth before the industrial revolution.?
It prevented merchants from freely trading goods in foreign markets.
How does gold investment affects GDP?
Investment in Gold reduces supply of money needed for accelation in economic growth. To that extent that affects growth of GDP.
How is gold important to Fiji?
It provides employment and is part of Fiji's economic growth.
What resources were traded in ghanas empire?
The things that were traded were gold and salt
Why was ghanas location important and how did it help them with trade?
Ghana's location was strategically important as it lay between the Sahara Desert to the north and the lush forests to the south, facilitating trade routes across West Africa. This positioning allowed Ghana to control and tax the lucrative trans-Saharan trade in gold and salt, attracting merchants from various regions. Additionally, its access to the Niger River connected it with other trade networks, enhancing its wealth and influence. The kingdom's ability to manage these trade routes contributed significantly to its economic prosperity and power.
How did ghanas rulers acquire huge amounts of gold?
The ghana rulers acquired a huge amount of gold because they sent a lot of miners to get them.
What is the different between Special economic zon and free trade zone?
100 gms of gold
