Columbian Exchange Flashcards
What is the Columbian Exchange?
It was the global transfer of foods, plants, and animals during colonization of America.
What were two of the most important items transferred?
Corn and Potatoes
Vitamins and cheap to grow
What did the Europeans introduce to the Americas?
Animals, Bananas, Grains, Black Eyed Peas.
What is Capitalism?
Private ownership of trade and industry with aim of making profit.
INVESTMENT–RESOURCES–MONEY
What is Inflation?
General increase of prices for goods because of high demand and low supply level.
How did Joint Stock companies develop?
Investors bought shares and companies combined their wealth to increase profit
What did the growth of mercantilism allow?
Countries to become wealthy and powerful.
What is favorable balance of trade?
Selling more goods than you bought it for increasing financial strength and self sufficiency.
How did economic changes contribute to the world and Europe?
- Increase in wealthy individuals
- Increase in poor people of Europe
- Increase in nation’s wealth and development of new towns.
