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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