Economic
Vocabulary
Vocabulary
What is the definition of lord?
A nobleman who owned land and had authority over the people living on it.
This joint-stock company funded the first permanent English settlement in North America at Jamestown in 1607
The Virginia Company
Who was at the top of feudal society?
King
Who are bankers
forced a shift in noble behavior by requiring repayment instead of allowing seizure of goods
Define Social Change
Changes in society over time
What is the definition of Knight
A noble warrior in the medieval period who served a lord in exchange for land and protection.
This company, founded in 1600, allowed investors to buy shares to fund trade between Britain and Asia, becoming one of the most powerful trading companies in history.
The British East India Company
Name two roles of peasants
Farming, working the land, providing food
Who are merchants and moneylenders?
people who gained power by lending money to nobles and kings
Define Satya
Gandhi’s idea of truth
What is the Definition of Peasant?
A common person or farmer who worked the land, often living in rural areas and serving lords.
How Joint-Stock Companies Worked
Investors in these companies shared both the profits from trade voyages and the risks of losing their investment if the voyage failed.
What role did knights have?
They fought and protected nobles
Who are moneylenders (or bankers)
people that ran early banks and required nobles to repay borrowed money
Define Modernization
Adopting new technology and ideas
What is the definition of Usury?
The practice of lending money at extremely high-interest rates, often considered unethical.
Describe your experience in investing, the VOC company.
depends on your answer
How did Feudalism decline over time?
Feudalism declined due to trade, towns, the Black Death, and stronger kings.
Who are merchants?
A group’s that need to exchange multiple currencies directly led to the creation of banking services
Define Activism
Taking action for social change
What is the definition of Medici Family?
A powerful banking family in Renaissance Italy known for their support of the arts and influence in politics.
Toys are needs
False
Name two groups in the feudal system.
Nobles, knights
What is barter?
The shift from exchanging goods directly to using gold and silver helped reduce reliance on this older economic method.
Define Education Reform
Improving access to schooling