1.[Reading] For this question, you are asked to read PART OF the article, “The globalization of codfish and wool: Spanish-English-North American triangular trade in the early modern period”. You ONLY need to read PART of the article, from “Spanish wool fetched very good prices” on p. 13 to “in the Castilian Hinterland” on p. 26.Start:../../../../Screen%20Shot%202017-01-18%20at%205.16.52%20PM.pngStop:../../../../Screen%20Shot%202017-01-18%20at%205.17.14%20PM.pnga. Write a 3-2-1 report on the article using the form provided on the course web site. (12 marks)Please remember that you need to use the FULL APA citation style for any references you use! For example, for the ‘2’ part….‘I did not know what ‘hinterland’ meant, so I looked for a definition online. Via Merrian-Webster, where I found it meant “a region lying inland from a coast” or “remote from urban areas”.Hinterland. [Def. 1 and 2.] In Merrian Webster. Retrieved January 15, 2018, from https://www.merriam-webster.com/dictionary/hinterland’For more details, on how to cite a dictionary, seeEasyBib. (n.d.) APA: Dictionary [Web Page]. Retrieved from http://www.easybib.com/reference/guide/apa/dictionaryThe APA citation is VERY common, so searching for ‘APA style <item>’ (e.g. ‘APA style dictionary’) will almost always give you the appropriate citation style.Note: Please try to keep your answer to each question under 100 words . If you can answer a question in 6 words, that’s great!Question 1What are the 3 most important concepts, ideas or issues in the reading?Briefly explain why you chose them.Any quotes must be in quotation marks and cited properly in APA format.Question 2What are the 2 concepts, ideas or issues in the article that you are having the most difficulty understanding, or that are missing but should have been included?Briefly explain what you did to correct the situation (e.g. looked up an unfamiliar word or a missing fact), and the result.Cite any sites or sources used in APA format .Question 3What is the main economic story of the paper?(Economics studies the allocation of limited resources among unlimited needs and wants.)b. Based on what you have read, briefly explain why triangular trade (A to B to C to A) was preferred to direct trade (A to B to A) in the context of English trade in cod and wool in the 1600s and 1700s. It seems like more trouble to add a third point to the journey – why not stick to trade between two points, maybe having separate trips for cod and wool? What made triangular trade more profitable? (3 marks)a. Follow these steps to find a newspaper article on Newfoundland cod written BEFORE 1900. To obtain credit for answering this question, write down the name of the article, the newspaper and publication date, and the exact address where it may be found. (10 marks)i. Go https://news.google.com/newspapersii. Enter ‘Newfoundland cod’ into the search box to the right of ‘Google news’ (NOT the main search bar at the top) and click the ‘Search Archive’ button.iii. Once on the results page, right-click on likely articles and select ‘open in new tab’ or ‘open in new window’ to avoid losing your search results. (The sample solution will show you how to check if an article was written before 1900 without having to open it.)iv. Read through the newspaper articles you’ve opened, until you find one that is about Newfoundland cod. (It’s possible to get false results from the initial search, if the words ‘Newfoundland’ and ‘cod’ appear on the same page but in separate articles.)v. Once you’ve found a relevant article written before 1900, cite it using the APA format.b. Briefly explain, in your own words, what the article you chose tells us about the history of Newfoundland cod. (5 marks)ReferencesQuestion 1Grafe, R. (2003). The globalisation of codfish and wool: Spanish-English-North American Triangular trade in the early modern period [LSE Working Paper No. 71/03]. Retrieved from http://www.lse.ac.uk/economicHistory/workingPapers/economicHistory/2003.aspxQuestion 2EasyBib. (n.d.). APA: Newspaper [Web Page]. Retrieved from http://www.easybib.com/reference/guide/apa/newspaperGoogle News Archive [Web Page]. Retrieved from https://news.google.com/newspapers
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