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Unit 2 History Test > Global Economy > Flashcards

Global Economy Flashcards

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1
Q

integration of world cultures

A

globalization

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2
Q

native language to a region

A

vernacular

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2
Q

trade routes first used by W Europeans

A

networks of exchange

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2
Q

universal language everyone knows

A

lingua franca

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2
Q

lamguage used during religious services

A

liturgical language

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2
Q

understaning cultures and products for trade

A

market knowledge

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2
Q

Where was silver from?

A

Bolivia/Mexico/Caribbean

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2
Q

What were Spices, Cotton, and Silver to the Commercial Revolution?

A

lifeblood of global trade

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2
Q

Spanish silver city

A

Potosi

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2
Q

most important waterway for trade

A

Strait of Malacca

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2
Q

instrumental good that is exchanged for something (silver, gold, etc)

A

hard currency

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3
Q

idea that there can only be one winner

A

zero-sum-game in merchantilism

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3
Q

African sugar port

A

Sao Tome

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3
Q

orders for trade

A

bills of exchange

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4
Q

exports > imports

A

favorable balance of trade

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5
Q

forms of protectionism

A

tarrif taxes. import quotas, Navigation Acts

6
Q

association of investers for trade

A

chartered company

7
Q

people can invest in company

A

joint-stock company

8
Q

when a stock holder is only liable for their investement

A

limited liability

Unit 2 History Test (4 decks)

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