Final Commercial Revolution vocab
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12 terms
English | Coptic |
|---|---|
 Partnership | a contract between two or more persons who agree to pool talent and money and share profits or losses |
| Joint-stock company | private trading company in which shares are sold to investors to financein a legal case |
| Bill of Exchange | issued by a banker in one city to a merchant who could exchange it for cash in a distant city, thus freeing him from traveling with gold, which was easily stolen |
| Merchant | someone who buys and sells goods for a living |
| Usury | practice of lending money with intrest |
| Guilds | an association of merchants or artisans who cooperated to protect their economic intrests |
| Apprentice | a trainee in a particular trade, the lowest level in the trade |
| Journeyman | skilled worker employed by a master, the middle level in the trade |
| Master | The highest level in a trade, requires experience and talent |
| Mercantilism | policy by which a nation sought to export more than it imported |
| Trade fairs | Periodic gatherings of merchants for buying, trading, and selling |
| Demand | the amount of goods and services people are willing to buy |
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