By the end of the seventeenth century, which of the following was true?

Question

Quizplus · Accepted Answer

By the end of the seventeenth century, local, regional, and intra-European trade was considerably greater than international trade. This was because of the development of domestic markets, as well as the increasing importance of industrial production and urbanization. Although international trade was still important, it was not as significant as intra-European trade. Wealth was also not being transferred back to the New World from Europe, as the colonies were primarily producing raw materials for Europe.

By the End of the Seventeenth Century, Which of the Following