Definition: These are key commodities that were traded globally during the Age of Exploration and Colonialism. They played a significant role in the development of international trade networks and economies.
Analogy: Think of these commodities as the "viral trends" on social media today. Just like how everyone wants to get their hands on the latest trending item or participate in a viral challenge, countries during this period were eager to trade for these goods due to their high demand and profitability.
Commodity Trade: The exchange of goods such as silk, sugar, chocolate etc., often between different regions or countries.
Mercantilism: An economic theory prevalent during the 16th to 18th centuries that advocated for a positive balance of trade (exports greater than imports) and accumulation of precious metals by the state.
Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.
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