7. Age of Exploration, Commercial Revolution Flashcards Preview

Ap European History > 7. Age of Exploration, Commercial Revolution > Flashcards

Flashcards in 7. Age of Exploration, Commercial Revolution Deck (14):
1

Bartholomew Diaz
nationality? what did he do?

Portuguese
rounded Cape of Good Hope

2

Vasco da Gama

Portuguese
reached India

3

Hernando Cortes

Aztec

4

Francisco Pizarro

Inca

5

Columbian Exchange: New world -> Old world

food: potato, tobacco, vanilla, chocolate
diseases: syphilis

6

Col Exchange: Old -> New world

coffee, horses, slaves, colonists
diseases: smallpox, measles

7

Commercial Revolution is marked by

an increase in general commerce, and in the growth of financial services such as banking, insurance, and investing

8

Population growth from 1500 to 1600

70mil to 90 mil

9

4 Causes of Commcial Rev

- Increase in trade
- Pop growth
- Price inflation
- New nation-centered economies

10

Putting-out system
describe?
consequence?

- work is contracted by a central agent(entrepreneur) to subcontractors who complete the work in their own places and paces. Finished parts are put together by entrepreneur
- significant increase in production

11

joint-stock companies formed by?
in order to?

- English and Dutch merchants
- maximize profits and limit risks

12

Goals of mercantilists

- want to build strong, self-sufficient economies

13

Description of Mercantilist theory

- colonies should export raw materials and import finished goods
- thus, creating Favorable Balance of Trade

14

Consequences of Commercial Rev

- Rise of Capitalism: a system where capital is invested to produce more capital
- Rise of bourgeoisie (middle class)