Unit 2 Test Study Guide – Flashcards

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Mercantilism was when countries tried to gain wealth at the same time. This caused a lot of competition and many countries became rivals. The whole idea of mercantilism was to gain wealth, gold, and silver. Mercantilism was an economic "system" that developed in Europe during the period of the new monarchies (c. 1500) and culminated with the rise of the absolutist states (c. 1600-1700). The underlying principles of mercantilism included (1) the belief that the amount of wealth in the world was relatively static; (2) the belief that a country's wealth could best be judged by the amount of precious metals or bullion it possessed; (3) the need to encourage exports over imports as a means for obtaining a favorable balance of foreign trade that would yield such metals; (4) the value of a large population as a key to self-sufficiency and state power; and (5) the belief that the crown or state should exercise a dominant role in assisting and directing the national and international economies to these ends. As such, mercantilism developed logically from the changes inherent in the decline of feudalism, the rise of strong national states, and the development of a world market economy.

modern: belief in the benefits of profitable trading; commercialism historical: the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.

The initial cause of the increase in slavery in Africa was because European colonists in the Americas needed cheap labor. The spread of Islam was the initial cause of slavery in Africa. Muslim rulers justified enslavement. This caused them to use enslaved Africans on plantations and farms.

The first Europeans to explore Africa were the Portuguese.

They needed cheap labor. The Portuguese began buying African slaves because at first they were more interested in trading gold than Africans. Then when America was colonized, all of the natives started dying so then the Portuguese and other Europeans became interested in slave trading.

The four advantages of using Africans as slaves were: 1. They had already built up their immunity by being exposed to European diseases. 2. The Africans also were very skilled in farming and could easily be taught plantation work. 3. Another advantage was that the Africans would have trouble escaping because they did not know their way around America. 4. The last advantage was that their skin color would make them easier to catch them if they escaped or if they tried to live with other people. These were the four advantages.

The number of slaves that labored within America between 1500-1600 was about 300,000.

African rulers and merchants cooperated with European merchants to trade goods for slaves. The European merchants would wait in ports along the coast of Africa instead of traveling inland. African merchants captured people to be slaves. They then gave them to the Europeans for things such as: gold, guns, and other goods. Even after many African rulers had spoken out against slavery, they were lured by the money and so they continued to trade slaves. African merchants made new trade routes so that rulers who refused to cooperate could be avoided.

The percentage of Africans that survived the journey was 80% of the Africans on each slave ship. This was because the Africans got whipped and beat from merchants, and also caught many diseases. Some Africans also committed suicide. This is why some of the Africans that were being enslaved died.

The Africans that were transported to the America's were part of a transatlantic trading network known as the Triangular Trade system. Europeans sent manufactured goods to go to West Africa. They would be traded for African slaves. The Africans would then be sent across the Atlantic Ocean and sold in the West Indies. Merchants bought products picked made by these slaves from the West Indies. On a separate triangular route, merchants sent rum and other goods from the New England colonies to Africa. Then that merchandise would be exchanged for slaves. Then the traders transported these slaves to the West Indies, and sold them for sugar and sugary substances. Then they sold these to rum producers. There were many more of these transatlantic trade routes throughout the northern and southern colonies, the West Indies, England, Europe, and Africa. This network consisted of a variety of goods.

A market economy is an economy in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.

A market economy is an economy where most resources are owned and controlled by individuals, and are allocated through voluntary market transactions governed by the interaction of supply and demand. People exchange resources, such as money, for other resources, such as goods or services, on a voluntary basis in the market. The value of the resources exchanged is based upon how scarce each resource is and how many people want the resource. If the supply of a resource is low, but the demand is high, the price will tend to be high. If the demand is low and the supply high, the price will tend to be low. Economic growth and development in a market economy is determined by the relative risks and rewards (or profits) that particular economic activities presents to individuals. If risks are too high and rewards are too low, then certain activities probably will not be pursued.

a business or manufacturing activity carried on in a person's home.

It is a system for making products to sell in which people work in their own homes and use their own equipment. Cottage Industry is a specialized form of small scale industry where the production of the commodity takes place in the homes and the labor is supplied by the family members only. The machineries or means utilized for the production of the commodities generally are the common ones used at homes. The basic characteristic feature of Cottage Industry is that it is basically unorganized in nature and come under the group of small scale industry type. The commodities that are being produced by these industries are basically consumable ones and are produced through the utilization of the traditional techniques. Cottage Industry especially started its function in the country sides of a country where unemployment along with under-employment are prevalent. Thus, this industry helps the economy by absorbing a huge amount of surplus labor of the rural economy. Another glaring feature of Cottage Industry is that it is not a mass producer of commodities.

Portugal

Spain

Spain

England and the Netherlands (Holland)

France

Spain

Spain

Portugal

Spain

He was the first European to find a direct route to India.

He circumnavigated the globe.

He conquered Peru (Incas). He also established the capital of Peru (Lima).

Three bodies of H2O named after him. (He found them) . Hudson River, Hudson Bay, and the Hudson Strait.

He explored/traveled St. Lawrence and landed in Canada- Quebec, Montreal, claimed land for France and his explorations helped France establish countries.

He explored southern North America.

He conquered the Aztecs (guns and diseases). He also explored west to Baja California.

He was the first to sail around the southern tip of Africa.

He was the first European to land in the New World.

The Columbian Exchange or Grand Exchange was the widespread transfer of animals, plants, culture, human populations, technology and ideas between the American and Afro-Eurasian hemispheres in the 15th and 16th centuries, related to European colonization and trade after Christopher Columbus' 1492 voyage.

The Columbian Exchange refers to a period of cultural and biological exchanges between the New and Old Worlds. Exchanges of plants, animals, diseases and technology transformed European and Native American ways of life. Beginning after Columbus' discovery in 1492 the exchange lasted throughout the years of expansion and discovery. The Columbian Exchange impacted the social and cultural makeup of both sides of the Atlantic. Advancements in agricultural production, evolution of warfare, increased mortality rates and education are a few examples of the effect of the Columbian Exchange on both Europeans and Native Americans.

From the Americas to Europe: Avocados, Beans (kidney, navy, lima), Bell peppers, Cacao (for chocolate), Chili peppers, Corn, Marigolds, Papayas, Peanuts, Pineapples, Poinsettias, Potatoes, Pumpkins, Quinine, Rubber, Squashes, Sunflowers, Sweet potatoes, Tobacco, Tomatoes, Turkeys, Vanilla beans, Zinnias From Europe to the Americas: Bananas, Barley, Cabbages, Carnations, Chickens, Coffee, Cows, Crabgrass, Daffodils, Daisies, Dandelions, Horses, Lemons, Lettuce, Lilacs, Olives, Oranges, Peaches, Pears, Pigs, Rice, Sheep, Sugarcane, Tulips, Turnips, Wheat

One of the most important things that the Columbian Exchange lead to was a global economy, like you mentioned. However, one other thing that is usually overlooked is how beneficial native American crops were to Europe. Within the end of the decade, corn, potatoes, squash, etc. were the staple crops of Europe, and one of the only things that kept them alive through overpopulation and famine. Horses, wheat, etc. were extremely beneficial to the native Americans and also that this trade opened the door for the expansion of colonization and slavery. Another effect of the Columbian exchange was that the Europeans were able to trade and get more materials and exchange goods and this also started the slave trade which made it easier to make money because the slaves were not paid for working, the owner of them only had to pay once for them and then get the work for free so the countries in Europe probably were able to make a little bit more money.

The causes of the diseases spreading were the explorers and their men exploring the America's. They brought along many diseases from Europe and passed them along. The effects of the diseases on the native populations was the populations decreased and the natives all died and this is why slavery started. People needed cheap labor and there were no natives left to do it, plus the Africans had built immunity from the European diseases and this is how slavery started.

Many natives died and many medicinal substances were tested.

The spread of plants, animals, and diseases was one of the biggest effects of the Age of Exploration. Explorers and conquistadors brought many new plants to the Americas. They brought European crops such as barley, rye, and wheat which was from the Middle East. They also brought plants that originally came from Asia including sugar, bananas, yams, citrus fruit, coffee, rice, and sugarcane. Europeans also brought domesticated animals such as cattle, sheep, goats, pigs, and horses. Lastly, Europeans also brought deadly diseases. This biological exchange had the greatest impact of all. Native people had no resistance to such diseases as measles, smallpox, influenza, and many more.

The slave trade had an enormous impact on Africa, especially in West Africa. Slavery forever changed the lives of millions of enslaved Africans who were taken to the Americas. It also affected the lives of other Africans. Tribal wars erupted as chiefs sought captives to sell as slaves.

Bartolomeu Dias

God, Gold, and Glory (Religion, Economic, Fame/Wealth)

They thought that they were more superior than the African Americans.

King John I of Portugal

Yes

No, they thought that the African Americans were far more inferior than they were.

They might have but since the British said that they were the main race and basically the best, this detail does not support that opinion.

Smallpox