Vocabulary
Joint-Stock Company
Is a business where stocks, or a share of ownership in the company, can be bought and owned by stakeholders
What is the function of colonies in increasing wealth of European nations?
Colonies served as sources of precious metals and raw materials and were markets for exports.
What is the Middle Passage?
The forced voyage of enslaved Africans across the Atlantic Ocean to the Americas.
What is Creole
A person of European descent born in Latin America and living there permanently
Mercantilism
people who believed that the prosperity of a nation depends on a large supply bouillon, gold or silver
What are the plants, animals and diseases that were exchanged among Europe and Africa and the Americas?
Crops and livestock; enslaved people and diseases
To supply the demand for labor plantations, enslaved people were imported from Africa. Many died and more enslaved people were neeeded to replace them.
Mestizo
A person of mixed European and Native American descent
Export
To send a product or service for sale to another country
Which economic theory was put into practice during the age of exploration?
Mercantilism states that in order for nations to thrive, they need large reserves of gold and silver, achieved by maintaining a favorable balance of trade.
What are some effects, both positive and negative of European trade of the Americas. Be sure to refer to specific ideas and specific events.
Increased economic growth and technology
disease
slavery
destruction of culture
A person of mixed African and European Descent.
Subsidies
Payments made to support enterprises a government thinks is beneficial.
How did the Columbian Exchange affect the Americas and Europe?
New Crops and livestock were introduced into Europe and the Americas. European diseases killed large percentages of indigenous peoples.
What is the definition o Peninsulares?
A person born on the Iberian Peninsula; typically, a Spanish or Portuguese official who resided temporarily in Latin Americal for political and economic gain and then returned to Europe.
Encomienda
A system of labor the Spanish used in the Americas; Spanish landowners had the right as granted by Queen Isabella, to use Native Americans as laborers
Plantations
A large agricultural estate
How did European exploration change by the seventieth century?
The Dutch had seafearing technology and developed a trading empire.
What is a frontier
The edge of settled land
Mita
A labor system that the Spanish administrators in Peru used to draft indigenous people to work.