Age of Exploration
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15 terms
Terms | Definitions |
|---|---|
Main purpose Europe wanted to find new routes to Asia by the sea | Italian merchants controlled the trade to Asia |
4 reasons some Europeans began to explore | gain trade foothold for goods; some wanted to find wealth and glory; spread faith; curiosity |
What is Inflation | Steady increase in prices |
What causes inflation | Low Supply + High Demand |
What did Christopher Columbus believe he could find? | A route to Asia by heading West |
Columbian Exchange | Widespread exchange of plants, animals, and disease between Europe and the Americas |
What were England, France, and the Netherlands trying to discover with their explorations | trade routes to Asia |
Joint-Stock Companies | companies invested in by multiple people |
Why were Joint-Stock companies formed | business ventures became to large for any one person to invest in. |
What was the purpose of European colonies? | to supply goods for the mother country |
What effect did Europeans have on Native Americans | Native American populations decreased from diseases |
How did Ferdinand Magellan's expedition end | Magellan was killed in the philippines |
Capitalism | System where economic activity is carried on by private individuals or organizations |
What economic system benefited from the est. of colonies during the Age of Exploration | Mercantilism and Capitalism |
What is a favorable balance of trade in the Mercantilistic econimic system | Exporting more manufactured goods than are imported |
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