Triangular Trade
What was triangular trade?
A series of trade networks between Europe, Africa, and the Americas
Once slaves were captured, what were they forced to do next?
How did the Columbian Exchange get it's name?
Columbus took native plants/animals to Europe, brough Europeans, plants/animals back with him
What risks are entrepreneurs responsible for when owning a business?
buying raw materials, hiring/paying workers, transporting goods
What goods were exchanged at each point in the triangular trade?
Europe-->Africa: cloth, metal goods, weapon
Africa-->Americas: Slaves
Americas-->Europe: Raw materials (crops/resources)
Once slaves reached port cities, where were they held until the slave ships arrived?
Holding pens and warehouses
What were two items swapped in each direction of the trade?
New-->Old: pumpkins, corn
Old-->New: Horses, grapes
Book keeping for businesses
Using banks to get loans
Buying stock in a company
What industries were the major benefactors of the Triangular Trade?
Merchants, shipbuilding, plantation systems, fishing
What were three ways slaves could die on the journey to the Americas?
Disease, starvation, suicide, rebellion, beating, etc...
What are two ways the Exchange boosted global population?
1. More food production=longer life expectancy everywhere
2. People groups meeting each other and having kids
What is the goal of mercantilism?
What was the "Middle Passage"?
Once slaves reached America, what was done with them before they reached the plantation?
Auctioned off and branded on the cheek
How did the trade between old and new world create rapid inflation in Europe?
Massive amounts of silver and gold entering European economies
What is the role of colonies in the view of mercantilism?
Supply mother country with raw materials
Provide the mother country with a new market
Why did Northern cities benefit from the slave trade if they had fewer slaves than the south?
What three people groups inspired Atlantic Slavery, and how did they inspire it?
Greeks-->enslave people of other cultures
Romans-->enslave people of other cultures on plantations
Muslim Arabs-->enslave sub-saharan Africans on plantations in North Africa
How did the Columbian Exchange lead to capitalism in Europe
More money to lend to entrepreneurs. Businesses expand overseas
Destroyed land to get natural resources
set national currencies
Set rules for trading
created monopolies for large producers