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Questions and Answers
Which of the following is the primary reason why the East India Company was granted a charter by Queen Elizabeth I in 1600?
Which of the following is the primary reason why the East India Company was granted a charter by Queen Elizabeth I in 1600?
- To establish a monopoly on trade with the East (correct)
- To promote fair competition among English trading companies
- To strengthen diplomatic relations with Asian countries
- To explore new lands and establish colonies
What was the main way in which mercantile trading companies in those days made a profit?
What was the main way in which mercantile trading companies in those days made a profit?
- By investing in new technologies
- By excluding competition (correct)
- By establishing partnerships with other trading companies
- By offering lower prices than competitors
What was the main purpose of the East India Company's voyages across the oceans?
What was the main purpose of the East India Company's voyages across the oceans?
- To establish colonies in new lands
- To explore new territories and expand the English Empire
- To buy goods at a cheap price and sell them at higher prices in Europe (correct)
- To promote cultural exchange with Asian countries
Which European power had established their presence in the western coast of India before the English ships sailed to India?
Which European power had established their presence in the western coast of India before the English ships sailed to India?
Who discovered the sea route to India before the English ships sailed down the west coast of Africa?
Who discovered the sea route to India before the English ships sailed down the west coast of Africa?
Which century did the French traders arrive on the scene in the Eastern markets?
Which century did the French traders arrive on the scene in the Eastern markets?
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Study Notes
The East India Company and its Context
- The East India Company was granted a charter by Queen Elizabeth I in 1600, primarily to break the Portuguese monopoly on the spice trade.
Mercantile Trading Companies
- Mercantile trading companies made a profit mainly by buying goods at a low price in one place and selling them at a higher price in another.
The East India Company's Voyages
- The primary purpose of the East India Company's voyages across the oceans was to establish trade routes and facilitate the exchange of goods.
European Presence in India
- The Portuguese had established their presence on the western coast of India before the English ships sailed to India.
Discovery of the Sea Route to India
- Vasco da Gama discovered the sea route to India before the English ships sailed down the west coast of Africa.
French Traders in Eastern Markets
- French traders arrived on the scene in the Eastern markets in the 17th century.
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