Flashcards in Chapter 2- Section 3&4 Quiz Deck (14)
This exchange of foods and animals had a dramatic impact on later societies. Without it, Texans today would have no cattle to ranch.
2 items traveling from Europe to the Americas
Horses and coffee.
2 items traveling from the Americas to Europe
Turkeys and potatoes.
Wealth/power/strength of nations is measured in gold/silver.
Nations were encouraged to...
Sell more products than it bought from foreign countries.
A country should mine gold and silver as well as establish a favorable balance of trade, or export more goods than it imported.
A tax placed on imported goods which makes those goods more expensive, which discourages people from buying them.
Subsidies were grants of money to help business-people start new industries and they were provided by governments to encourage the export of manufactured goods. SUBSIDIES ARE A GIFT, NOT A LOAN!
An economic system in which most economic activity is carried on by private individuals or organizations in order to seek a profit.
Investors pool their money to fund large businesses and jointly take the risk of losing that money if the company fails.
People who worked for a set period of time in exchange for a passage to the Americas. Once it was determined that this population was too expensive and that too many Native Americans were dying from European diseases, millions of Africans (slaves) were shipped to the Americas against their will.
Even though the majority of slaves survived the journey, the Middle Passage was a terrifying ordeal for captive Africans en route to the Americas.
An African slave from a young age, Equiano bought his freedom and provided us one of the best insights into the horrific conditions of life on a slave ship.