European overseas expansion led to the rise of colonial empires, producing the Columbian Exchange. The combination of resource inflows from the New World and the Industrial Revolution of Great Britain, allowed a new economy based on manufacturing instead of subsistence agriculture. COUNT 4
QSN1 What resulted from Europe's exploration of the New World? ANS1 the rise of colonial empires QSN2 What institution of mercantilism was established with New World colonies? ANS2 the Columbian Exchange QSN3 What replaced agriculture as the focus of European economy with the establishment of overseas colonies? ANS3 manufacturing QSN4 Aside from the activities of colonies, what other event fostered the transition from agriculture to manufacturing? ANS4 the Industrial Revolution of Great Britain