Global Exploration & Trade Vocabulary Flashcards
Diffusion
the spreading of something
Commerce
the activity of buying and selling, especially on a large scale
Political
relating to the government or public affairs of a country
Exploration
the action of traveling in or through an unfamiliar area to learn about it
Exploitation
benefiting from the resources of an area
Colonize
for a country to establish political control over a place
Colonialism
the practice of acquiring political control over another country, occupying it, and exploiting it
Globalization
the process by which businesses or other organizations develop international influence
Emerging Markets
economies that experience considerable growth
Mercantalism
an economic theory that colonies should supply raw materials and the mother country should sell manufactured goods to the colonies
Free Market System
an economic system based on supply and demand
Imperialism
a policy of extending a country’s power through diplomacy and military force
Sovereign
possessing supreme or ultimate power
Trade
the action of buying and selling goods and services
Tariff
a tax to be paid on a particular class of imports or exports
