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What was the contribution of the British East India Company?
Traded with India and the East Indies.
What was the contribution of the Dutch East India Company (VOC)?
Traded with the East Indies, competing with the British.
What was the role of European merchants in the Transatlantic Slave Trade?
Profiteers who facilitated the trade of enslaved Africans.
What was the role of African merchants in the Transatlantic Slave Trade?
Profiteers who facilitated the trade of enslaved Africans.
What is mercantilism?
Economic policy maximizing exports and limiting imports to accumulate gold and silver.
What is the Commercial Revolution?
Economic expansion, colonialism, and mercantilism leading to a global market economy.
What is a market economy?
Prices determined by supply and demand, aiming to maximize profits through free trade.
What is the Price Revolution?
Inflation due to increased trade, mining, and influx of precious metals.
What are joint-stock companies?
Investors pool money into ventures, minimizing personal risk and sharing profits.
Define global trade race.
Competition among European powers to dominate overseas trade and establish colonies.
What is the Triangular Trade?
Exchange of goods between Europe, Africa, and the Americas, involving enslaved people and raw materials.
What is the Agricultural Revolution?
Period of improvements in farming methods leading to increased food supplies and population stabilization.
Define consumer culture.
A society where demand for goods and services drives economic production.
What is limited liability?
Shareholders are only responsible for the capital they invested.
What was the Commercial Revolution?
A period of economic expansion, colonialism, and mercantilism that led to the development of a global market economy.
What was the Price Revolution?
A period of inflation in Europe caused by increased trade, mining, and population growth.
What was the Transatlantic Slave Trade?
Forced transportation of millions of Africans to the Americas for labor exploitation.
What was the Agricultural Revolution?
A period of agricultural improvements that led to increased food supplies and population growth.
What was the global trade race?
Competition among European powers to dominate overseas trade and establish colonies.
What was the impact of the British in India?
Took control through military and economic interventions.
What was the impact of the Dutch in East Indies?
Gained control through the Dutch East India Company.
What was the impact of mercantilism?
Drove the search for new resources and markets.
What was the impact of consumer culture in Europe?
Drove production growth.
What was the impact of population growth?
Increased demand and labor supply.