Final answer:
The Chola Empire's wealth was mainly derived from controlling and taxing maritime trade through the strategic Palk Strait, along with agriculture, handicraft industries, and a comprehensive taxation system.
Step-by-step explanation:
The main source of wealth for the Chola Empire was primarily maritime trade. The empire, which dominated regions around the eastern coast of India, controlled vital trade through the Palk Strait. This strategic location enabled the Chola to collect taxes from passing ships, generating enormous revenues.
Trade items included textiles, spices, and precious gems, and gold and silver flowed into the empire in exchange. Additionally, the Chola had an impactful presence in the Indian Ocean trade networks, extending their influence and wealth.
Moreover, the Chola Empire was known for its agricultural prowess, handicraft industries, and extensive tax system applied to peasants. Though heavily taxed, peasants were excused from full payments during natural calamities. The Chola also experienced an 'Imperial Golden Age' with cultural and artistic achievements, signifying their economic prosperity and political stability.