Question

Using the chart as a reference, explain one way in which increased international trade improved the standard of living for both Americans and Europeans.

Answer 1

International trade enables specialization, which brings increased efficiency and greater competition to spur the market.
This happens becauseSpecialization would make each nation to focus on producing certain type of products in which they would gain a competitive advantage towards other (either because they had the necessary materials sources or labor qualities) and would create better and cheaper product in the market.

Answer 2

Answer:

The reason the international trade improved according to what the chart says was because the population of Asia, America, and Europe increased between 1850 and 1900. There was 809 million in Asia in 1850 and in 1900 there was 947 million. In America there was 26 million in 1850 and in 1900 there were 82 million, lastly in Europe there were 276 million in 1850 and in 1900 there was 408 million. So population increased dramatically in only 50 years, thus making the trade more abundant.

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