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