Capitalism and the English East India Company
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Questions and Answers

What was the outcome of the first expedition sent by the English East India Company to the East Indies?

  • The ships returned with a cargo mainly of pepper, leading to a 95% profit for the shareholders (correct)
  • The ships were seized by pirates
  • The ships were lost at sea and never returned
  • The crew mutinied and took control of the ships

    • What happened to the ship Susan from the second expedition?

  • It successfully returned to England
  • It was lost at sea (correct)
  • It was wrecked off the coast of India
  • It was ambushed by pirates

    • How did the third expedition in 1607 compare to the previous ones in terms of success?

  • It was similarly successful (correct)
  • It was unsuccessful due to pirate attacks
  • It ended in a complete disaster
  • It resulted in a 50% profit for the shareholders

    • What happened to the ship Ascension during the fourth expedition in 1608?

    <p>It was wrecked by its 'proud and headstrong master' on the west coast of India</p> Signup and view all the answers

    What were the main cargoes brought back by the ships after the first expedition?

    <p>Pepper, cloves, and nutmegs</p> Signup and view all the answers

    How did Hector and Susan from the first expedition return to England?

    <p>Hector was rescued by Ascension and Dragon, while Susan was lost at sea</p> Signup and view all the answers

    What is the primary focus of capitalism, as described in the text?

    <p>Maximizing profits through scarcity and distance</p> Signup and view all the answers

    Why were markets and market conditions important for the long-distance trading ventures?

    <p>To avoid saturation and price depression</p> Signup and view all the answers

    What was the purpose of having a large crew on the East India Company's ships?

    <p>To ensure there were enough sailors to get the ships back</p> Signup and view all the answers

    Where did the East India Company obtain a significant portion of its capital from?

    <p>Rich London merchants</p> Signup and view all the answers

    How did the East India Company spread risk in financing long-distance trade?

    <p>By sending out several ships on each expedition</p> Signup and view all the answers

    What caused the East India Company to diversify into other spices and products?

    <p>Saturation of pepper market</p> Signup and view all the answers

    Why did the East India Company welcome aristocrats and their hangers-on as a source of capital?

    <p>For their influence at Court</p> Signup and view all the answers

    What was the main factor affecting profitability in long-distance trading ventures?

    <p>Scarcity and distance</p> Signup and view all the answers

    What were the primary costs associated with outfitting outgoing vessels for trading expeditions?

    <p>Fitting out, building, and repairing ships</p> Signup and view all the answers

    Why were Dutch merchants excluded by the rival Dutch East Indies Company a useful source of intelligence for the East India Company?

    <p>To gain information about rival company's activities</p> Signup and view all the answers

    What was the outcome of the fourth expedition by the English East India Company in 1608?

    <p>Complete disaster with wrecked ships and crew casualties</p> Signup and view all the answers

    What was the main cargo brought back by the second expedition sent by the English East India Company to the East Indies?

    <p>Pepper, cloves, and nutmegs</p> Signup and view all the answers

    What caused the loss of the ship Susan during the second expedition by the English East India Company?

    <p>Lost at sea with most of her crew dead</p> Signup and view all the answers

    Why was the third expedition by the English East India Company in 1607 considered successful?

    <p>It achieved record profits and returns on investments</p> Signup and view all the answers

    What was the cause of wrecking the ship Ascension during the fourth expedition by the English East India Company in 1608?

    <p>The 'proud and headstrong master' ignored local warnings about shoaling waters</p> Signup and view all the answers

    'What happened to the Union during the fourth expedition sent by the English East India Company?'

    <p>The crew was ambushed at a Madagascan port resulting in casualties</p> Signup and view all the answers

    What was the primary motivation for long-distance trading ventures described in the text?

    <p>To make huge profits by trading goods at high price differentials</p> Signup and view all the answers

    What was the main reason for the East India Company to diversify into other spices and products?

    <p>Saturation of the market due to excessive participation in the trade</p> Signup and view all the answers

    What was the role of aristocrats and their hangers-on in the financing of the East India Company?

    <p>Their influence at Court was valuable for obtaining royal favor and privileges</p> Signup and view all the answers

    What was the primary reason for sending out several ships on each trading expedition?

    <p>To spread the risk associated with long periods of uncertainty in far-away places</p> Signup and view all the answers

    What was the main source of capital for the East India Company's operations?

    <p>Rich London merchants</p> Signup and view all the answers

    Why were Dutch merchants excluded by the rival Dutch East Indies Company a useful source of intelligence for the East India Company?

    <p>They provided valuable information about their competitor's activities</p> Signup and view all the answers

    What was the primary factor that determined whether a trading venture would be profitable or not?

    <p>$The difference between the buying and selling prices of traded goods$$</p> Signup and view all the answers

    How did market conditions impact long-distance trading ventures, according to the text?

    <p>$They could lead to a saturation of markets or a sudden depression of prices$$</p> Signup and view all the answers

    What was one crucial role of foreign money in relation to the East India Company?

    <p>$To contribute to the company's capital, mainly from Dutch merchants excluded by a rival company$$</p> Signup and view all the answers

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