EXAMINE THE SOURCE 1. Identifying How did Byzantine traders profit from the gold trade? 2. Evaluating How did the gold trade mutually benefit the Byzantine Empire and East Africa?

Question

EXAMINE THE SOURCE 1. Identifying How did Byzantine traders profit from the gold trade? 2. Evaluating How did the gold trade mutually benefit the Byzantine Empire and East Africa?

Answer 1

1. Byzantine traders profited from the gold trade by acting as intermediaries between the gold-producing regions in Africa and the markets in the Middle East and Europe. They bought gold from African traders at a lower price and sold it at a higher price in the Middle East and Europe, making a profit from the difference. Additionally, they also charged fees for their services as intermediaries.2. The gold trade mutually benefited the Byzantine Empire and East Africa by establishing a lucrative trade network between the two regions. The Byzantine Empire provided a stable political environment and a well-developed trade infrastructure, which facilitated the flow of goods, including gold, between the two regions. On the other hand, East Africa provided a steady supply of gold to the Byzantine Empire, which was used to mint coins and as a form of currency. This trade relationship not only brought economic prosperity to both regions but also fostered cultural exchange and cooperation.

Question

EXAMINE THE SOURCE 1. Identifying How did Byzantine traders profit from the gold trade? 2. Evaluating How did the gold trade mutually benefit the Byzantine Empire and East Africa?

Solution

Resposta