Question

What was the primary financial advantage that Caribbean and Latin American sugar plantations had over competing regions such as Europe and the Middle East?

Answer 1

Note: This response is in UK English, please paste the response to MS Word and you should be able to spot discrepancies easily. You may elaborate the answer based on personal views or your classwork if necessary.

(Answer) In the sixteen century, England was facing a touch economic competitive structure. The price of food was less than the price of wool. This meant that farmers began using cultivable land in order to have their sheep graze on it. Eventually, the European markets sought expansion in foreign lands. These foreign lands also doubled as settlements to the Europeans, economic opportunities, settlement and religious freedom. This is how the colonies were formed with the increase of trade at the forefront. Colonies became known for different trades like tobacco, wool etc

This was a type of short-sightedness on the part of the Europeans. They placed a higher value on non-essential goods as opposed to goods of daily necessities. This resulted in the increase in the price of basic necessities. One of these necessitates being sugar. Since the Caribbean and Latin America had favourable climate for growing sugarcane and slavery led to cheap production costs, sugar became one of the major commodities that they sold. Therefore, while countries in Europe and the Middle East were focused on other trade issues, the central and southern American nations thrived from producing basic commodities.