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Q3 – Define Mercantile.
Ans – Mercantile refer to business enterprise that make profit mainly through trade by
buying goods at cheap price and selling them at higher price.
Q1– Explain how royal charter failed to prevent other eastern power form
entering to European market, and what was its consequence.
Ans –
1.The royal charter was failed as other eastern power started emerging. By the time
the first English ship was moving around the world, the Portuguese came into the
western part of India, in Goa.
2. Dutch too were exploring the Indian ocean for trade in seventeenth century and
French traders also arrived in the scene. The problem arose from this was everyone
wanted the same thing, consequence of which led to eliminating rival competitors.
3.The urge to secure market for themselves led to fierce battle between these
companies. In the seventeenth and eighteenth century they regularly sank each other’s
ships, blockaded routes, and prevented rival ships from moving with supplies of
goods.
4.This effort also led to intense conflict with local rulers. It became difficult for
company to separate trade and politics.
Q2) – Write a note on – “East India Company began its first trade in Bengal”.
Ans – The East India Company established its first English factory on the banks of
river Hugli in year 1651. This was the base from where company traders operate all
their work.
2. The factory also had the warehouse where all the goods were stored. As trade
expended, the company suggested the traders and merchants to come and settle near
the factory. Two years later the company officials started bribing Mughal officials into
giving three villages zamindari right.
3.One of these was Kalikata, now knows as Kolkata. The company tried continuously
to press for more concession and manipulates existing privileges.