Social 10 - Chapter 5 Flashcards
What is Imperialism?
A policy of extending a country’s power and influence through diplomacy or military force.
What is Historic globalization?
Historical Globalization is the historical process of the world becoming more interconnected.
What is Mercantilism?
The belief in the benefits of trading.
What is Capitalism?
An economic and political system in which a country’s trade and industry are controlled by private owners for profit.
What is the Grand exchange?
A trading system for players to buy and sell almost all tradeable items.
What is a Industrial Revolution?
the transition from creating goods by hand to using machines.
Why did Europe’s government strictly controlled trad between 16-18 century?
They believed that the balance of trade must favour the home country.
When did Mercantilism decrease?
18th century
What are the effects of European colonial settlement?
Environmental degradation, the spread of disease, economic instability, ethnic rivalries, and human rights violations.
