All Flashcards
What were the causes and effects of the Commercial Revolution?
Causes: European colonies, new trade routes, population growth, increased mining. Effects: Development of a global market economy.
What were the causes and effects of the Price Revolution?
Causes: Influx of precious metals, population growth. Effects: Inflation, economic hardships, new industries, technological innovation.
What were the causes and effects of the Transatlantic Slave Trade?
Causes: Demand for labor in the Americas. Effects: Forced transportation of Africans, commodity production, financial growth in Europe.
What were the causes and effects of the Agricultural Revolution?
Causes: Need for increased food supplies. Effects: Stabilized population growth, better transportation, new farming methods.
What were the causes and effects of mercantilism?
Causes: Desire for national wealth and power. Effects: Colonial expansion, trade restrictions, and commercial rivalries.
What were the causes and effects of population growth?
Causes: Agricultural revolution, disease control. Effects: Increased demand, labor supply, and consumer culture.
What were the causes and effects of commercial rivalries?
Causes: Competition for trade and resources. Effects: Alliances, treaties, trade wars, and conflicts.
What were the causes and effects of maritime competition?
Causes: Desire to protect trade routes and control ports. Effects: Growth in shipbuilding, naval power, and colonial control.
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.