Economics Chapter on Mercantilism and Capitalism

<p>The invention of the steam engine (B)</p> Signup and view all the answers

<p>Free trade with minimal government intervention (C)</p> Signup and view all the answers

<p>Struggles between differing viewpoints (B)</p> Signup and view all the answers

<p>Legacies (B)</p> Signup and view all the answers

<p>Globalization and increased trade (D)</p> Signup and view all the answers

<p>Confusion in transactions (C)</p> Signup and view all the answers

<p>Industrial Revolution (B)</p> Signup and view all the answers

<p>Mercantilism (A)</p> Signup and view all the answers

<p>Depopulation (D)</p> Signup and view all the answers

<p>Statistics (C)</p> Signup and view all the answers

<p>Production shifted from small-scale, hand-crafted methods to large-scale factory settings. (B)</p> Signup and view all the answers

<p>It allowed for quicker and more cost-efficient production with machines. (D)</p> Signup and view all the answers

<p>Mercantilism and imperialism. (D)</p> Signup and view all the answers

<p>It reflects the interconnectedness of the global economy today. (A)</p> Signup and view all the answers

<p>Caravel (D)</p> Signup and view all the answers

<p>Chattel slavery, treating individuals as property. (D)</p> Signup and view all the answers

<p>Rise of trade and commerce (D)</p> Signup and view all the answers

<p>Printing press (A)</p> Signup and view all the answers

<p>British and Dutch (A), Portugal and Spain (B)</p> Signup and view all the answers

<p>Belief in the superiority of European culture (D)</p> Signup and view all the answers

<p>To spread their culture and laws (A)</p> Signup and view all the answers

<p>Trade replaced agriculture as the driving economic force (B)</p> Signup and view all the answers

<p>Desire for wealth from trade (D)</p> Signup and view all the answers

<p>The spread of disease and new technologies (D)</p> Signup and view all the answers

<p>They shared news and knowledge. (B)</p> Signup and view all the answers

<p>Some luxuries became more affordable to various classes. (B)</p> Signup and view all the answers

<p>Lack of trade routes availability (D)</p> Signup and view all the answers

<p>1492 - WWII (1945) (A)</p> Signup and view all the answers

<p>Impacting the spread of ideas and religion (B)</p> Signup and view all the answers

<p>Spread of medical knowledge and science (B)</p> Signup and view all the answers

<p>WWII (1945) - Present (B)</p> Signup and view all the answers

<p>They were captured because of their race. (D)</p> Signup and view all the answers

<p>The publication of Olaudah Equiano's autobiography. (D)</p> Signup and view all the answers

<p>It abolished slavery throughout the British Empire. (D)</p> Signup and view all the answers

<p>33% (C)</p> Signup and view all the answers

<p>Poor settlers signed contracts for minimal pay. (A)</p> Signup and view all the answers

The period of time from the early 1500s to the late 1800s during which trade between different countries increased significantly, leading to the spread of shared ideas and cultural exchange between countries.

The set of processes that connect the history of one country to another through trade, cultural exchange, migration and colonization.

The legacy of early globalization continues to affect societies around the world today. These legacies can be both positive and negative, shaping how individuals and societies view the world.

A number system that originated in India and is now used globally due to its efficiency and practicality.

A complex system of social hierarchy during the European Middle Ages, with the king at the top and peasants at the bottom.

A historical trade route that connected the East and West, facilitating the exchange of goods and ideas between China and Europe.

A devastating pandemic that swept across Europe and Asia in the 14th century, killing millions and significantly impacting global trade and population.

An economic policy that emphasized national wealth through the accumulation of gold and silver, often through trade and colonization.

An economic policy where a country controls its colonies' trade to ensure the home country benefits from cheap raw materials and manufactured goods.

The idea that people naturally act in their own self-interest, leading to competition and a balanced market.

The natural force that pushes individuals and businesses to make better products and services to attract customers.

The natural balance between the amount of goods available and the demand for those goods.

An economic system emphasizing free trade with limited government intervention.

A period from 325 BCE to 1400 CE marked by the exchange of goods, ideas, and knowledge across vast distances.

The spread of ideas and knowledge that happens naturally as people from different cultures interact through trading and travel. This exchange of information is a key driver of cultural change and innovation.

The economic impact of the Silk Road, including the creation of new markets, the expansion of trade networks, and the movement of wealth across different regions.

The influence of the Silk Road on the Renaissance era in Europe, including the introduction of new knowledge, scientific advancements, and cultural influences. This exchange of ideas fostered a period of artistic and intellectual flourishing.

The period after World War II (1945) to the present day, marked by the rise of global markets, increased trade, and the interconnectedness of economies and cultures.

This motivating factor drives countries and individuals to engage in global trade to gain wealth through the exchange of goods and services.

Ships like the caravel became faster and safer than land travel, allowing Europeans to explore and trade further than ever before.

A period of time after 1492 marked by European nations establishing colonies in the Americas and other continents.

The belief that European culture and customs are superior to others, often used to justify colonization and dominance over other societies.

A system where a country extends its power and influence over other territories and peoples, often through colonization and control.

A significant exchange of plants, animals, technology, ideas, and diseases between Europe, Asia, Africa, and the Americas, triggered by Columbus' voyages.

The desire of European monarchs to expand their territories and acquire resources, which drove colonization and imperialism.

The shift in population from rural areas to urban centers, driven by economic opportunities in cities and towns.

The printing press, invented by Gutenberg in 1436, allowed ideas and information to spread quickly and widely.

The process of making goods in large quantities using machines, often in factories, which shifted production away from hand-made goods and cottage industries.

A specific type of slavery where enslaved people are treated as property, bought and sold like any other good.

The period when the demand for labor in European colonies led to new, more brutal forms of slavery, often focusing on the production of resources like sugar and cotton.

The concept that people are naturally motivated to act in their own self-interest, which drives competition and ultimately benefits the markets.

The process of bringing people from one region to another to work as forced laborers, often under brutal and inhumane conditions.

The abolitionist movement gained momentum as individuals and organizations spoke out against the inhumanity of slavery, demanding its end. This movement resulted in the outlawing of slavery in various countries and territories.

Juneteenth is a significant day commemorating the emancipation of enslaved people in the United States. It marks the day in 1865 when Union General Gordon Granger announced the end of slavery in Texas.

Indentured servitude was a system where individuals agreed to work for a set period of time in exchange for passage to the colonies and basic necessities. It was a form of forced labor, though different from slavery. Many indentured servants were poor individuals seeking a better life in the New World.

Indentured servitude, while not slavery, involved harsh conditions and exploitation. It reflected the need for cheap labor in the New World colonies. This system was often used to acquire skilled workers or to improve the economic standing of poor individuals, but it also often led to abuses and injustices.