history 6

  1. discuss how the commercial revolution contributed to mercantile theory
    there was a shift in economy from barter to mercantile system

    barter- goods for goods, circulate readily, little or no hoarding, equal distribution

    mercantile- goods for $, don't criculate, lots of hoarding, unequal
  2. define mercantilism
    nations power is determined by how much gold it has
  3. how does a nation get gold?
    • 1. conquest
    • 2. favorable balance of trade
  4. describe the favorable balance of trade
    more exports than imports
  5. what role did colonies play in mercantilism?
    provide new market for exports from mother countries, provide raw materials + labor
  6. define columbian exchange
    global transfer of foods, plants, animals, and disease between {Africa Asia Europe} and the Americas
  7. what were 6 goods going each way?
    to europe: potato, cacao bean, corn, tomato, peanut, pineapple

    to americas: citrus fruits, banana, onion, olive, grape, coffee
  8. define capital
    money used as a tool to make more money
  9. when did the colombian exchange begin? why?
    1500s, ships + exploration
  10. when did the colombian exchange take off? why?
    1700s, industrial revolution
  11. who has advantage in capitalism? why?
    wealthy, takes money to make money
  12. ID joint stock company
    similar to modern corp. investors buy shares of stock in a company. numbers of people combine wealth + capital for a common purpose.
Card Set
history 6