Choose the below statement is true/false;

The heavy demand increased the prices of goods which led to less profits for Europeans companies.

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True

False

answer is A.

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Detailed Solution

The above statement is True.
The European trading companies were interested in buying goods from India, but the problem was that all of the trading companies wanted to buy the same things. Europe had a large market for the finest qualities of silk and cotton produced in India. Some other things were also in huge demand, like pepper, cardamom, cinnamon, and cloves. This increased the competition between the European trading companies, which made the prices rise where this item could be purchased, reducing the earnable profit. These high demands for Indian goods created a rivalry between European trading companies and later resulted in battles to secure a market in India.

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