Final answer:
European traders sought numerous commodities, including agricultural products from the Americas and luxury goods from Asia. The Portuguese significantly impacted trade patterns, particularly in Africa and Asia, but other nations also searched for alternative routes to the costly Silk Road. The intense demand for Asian goods fostered global exploration, shaping the modern economic world.
Step-by-step explanation:
Important trade goods or commodities demanded by Europeans included a variety of agricultural products, luxury items, and raw materials. From the Americas, Europeans received goods such as pumpkins, squash, cacao beans, and tomatoes. On the other hand, Europeans introduced to the Americas crops like grapes, sugar cane, olives, onions, and coffee beans, as well as grains like wheat, oats, and barley. These exchanges were a part of the Columbian Exchange, significantly altering diets and agricultural practices on both sides of the Atlantic.
European trade with Asia during the period was crucial for luxury items such as silk, tea, and spices, which were highly valued in European markets. The Silk Road was a vital network for this trade, but due to its high cost and slow pace, Europeans sought sea routes to Asia. The Portuguese, in particular, established a presence along the African coast in search of gold initially, but later focused on the slave trade to meet labor demands in the New World. Italian city-states like Genoa, Pisa, and Venice also prospered by reselling Asian luxury goods throughout Europe.
While the Portuguese had a significant impact on exploration and trade in Asia, it was the Spanish who held the premier position, primarily due to their extensive empire and global trade connectivity. The Dutch and the English, too, played major roles in Asian trade later on, establishing their own East India Companies to compete with the Spanish and Portuguese monopolies.