What was Triangular-trade?

Answer 1

Triangular TradeThis term has been applied to several trade routes where Country 1 ships Product A to Country 2 where it is traded for Product B which is shipped to Country 3 and exchanged for Product C which is then shipped to Country 1 and traded for Product A. The most famous triangular trade route was

• Slaves from Africa to the Caribbean
• Sugar and Molasses from the Caribbean to New England
• Rum from New England to Africa.

Triangular Trade pertaining to Colonial America, England, Africa, and the West Indies

Triangular trade was the system of trade and transport that various goods took in the time leading to the American Revolution.

For example, England transported manufactured goods to the New World, which shipped out various resources. Slaves were transported from Africa to the West Indies, to the New World. England also received resources from the West Indies. There was also a transport of goods between England and Africa.

There were various advantages and disadvantages for both the Colonies and England with this system. Ultimately, it benefited England the most, which got:

• profits
• cheap resources
• an assured market
• somewhere to dump a surplus of goods
• Economic/Political self-sufficiency
• control of the gold supply

Disadvantages for England included:

• having to deal with/investing in the North American Colonies
• needing to pay for the army in there

Advantages for the Colonies included:

• access to expensive goods
• a guaranteed market for its resources
• support of the Empire and its army
• slaves

Disadvantages included:

• needing to pay high prices for manufactured goods
• receiving low profits from resources
• needing to pay taxes to support the Empire