Final answer:
The trading led to the formation of guilds by groups of merchants, accumulation of wealth, and influence over legal and government processes. It also facilitated the spread of knowledge and spurred the age of exploration. States benefited financially from trade, but the trade in enslaved Africans had severe negative impacts on their communities.
Step-by-step explanation:
One result of extensive trading activities was the formation of guilds by groups of merchants who dealt with the same products. Guilds were able to control trade practices, set standards for quality, and influence the prices of goods. They provided a network for merchants to collaborate and protect their economic interests. Moreover, trade led to the accumulation of wealth in the hands of merchants and farmers, some of whom were able to use their profits to influence legal processes and secure positions of power.
In addition, trade facilitated the spread of knowledge about distant lands and peoples, as exemplified by the journeys of merchants like Marco Polo. This thirst for knowledge helped to spur the age of exploration as European merchants sought direct access to luxury goods and markets.
Trade also had significant impacts on participating states, both financially and politically. States benefited financially from direct income through the sale of imported goods and taxes levied on goods transported through their territories. Politically, the amassed wealth of merchants allowed them some measure of control over government, particularly in the Italian city-states, enhancing trade security and setting the groundwork for further economic development.
The increased maritime trade between East and West created new consumer markets for luxury items such as silk, spices, and porcelain. However, the trade in enslaved Africans had devastating effects on the communities from which they were taken, contributing to human suffering and disruption of social structures.