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A new business development was the concentration of trade and its profit to warehouses and storage depots. Raw cotton from Central America was stored in Cadiz, that from Brazil in Lisbon, Indian cotton was pooled in London, while Marseilles took that from the Levant. Mainz and Lille were great wine depots. By the end of the century, the Europe of fairs was turning into the Europe of warehouses. Exchange rates of silver and gold varied from time to time, seriously affecting the European economy. France over-valued silver and so that metal was attracted there, while Venice, Italy, Portugal, England and Holland put a high price on gold. (Ref. 292 ) Finally we must emphasize the tremendous effects from the extensive overseas colonies of multiple European nations. The map of the next page is well worth study in this regard.

Southern europe

Eastern mediterranean islands

The Ottoman Empire maintained its domination of the eastern Mediterranean islands with the exception of Malta, which remained independent under the Knights of Malta, until Napoleon's troops conquered it in 1798. (Ref. 38 , 86 )

Greece

Greece was still docile under the Ottomans but Greek sea-farers and traders became prosperous at the end of the century as blockade runners through Napoleon's overseas domains and through other waters. By the Treaty of Kuchuk Kainardji (see page 942) the Turks allowed Russian ships to sail on the Black Sea, but since they had no ships or seamen of their own in those waters, they accorded Greeks and other Christians the right to fly the Russian flag.

Upper balkans

In 1711 Peter the Great of Russia vowed to free the Balkans from "the enemies of Christ". Both Moldavia (now a part of both Romania and the Soviet Union) and Wallachia pledged to help Peter, but only Moldavia actually supplied any troops and at the last minute Wallachia double-crossed the Russians so that Peter ended up pocketed with only 138,000 infantry, almost surrounded by 200,000 Turks and Tatars. The Russians surrendered, giving Azov and the Tagenrog harbor back to the sultan, abandoned their southern fleet and evacuated Poland. Russia did not give up any territory about the Baltic. Karl (Charles) XII of Sweden, who had just spent over three years in Moldavia, could now go back to Sweden. Meanwhile, Brancovo, the Hospodar of Wallachia, was beheaded by the Turks for his original thoughts of helping Czar Peter, even though in the end he had reneged. (Ref. 131 )

As a result of a war of the Ottomans with Austria and Russia again in 1736 to 1739, northern Serbia and Belgrade were freed from Austrian domination. Again, in the First War of Catharine, Moldavia and Wallachia were both overrun by Russian troops and about 7 years later (17~1) by an Austrian-Russian Treaty the Austrians were to receive the whole western half of the Balkans. Af ter the Second War of Catharine, the Austrians gave up Belgrade in return for a strip of northern Bosnia, while Moldavia and Bessarabia were returned to Russia.

Maize from America had been grown in gardens in the Balkans under at least ten different names for many years, but it was not until this century that it began to be grown in the wide open fields, as in much of the rest of Europe. (Ref. 260 )

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, A comprehensive outline of world history. OpenStax CNX. Nov 30, 2009 Download for free at http://cnx.org/content/col10595/1.3
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