Economy
The state owns collective farms and all types of industry. Government officials make all major economic decisions.
What is command economy?
The first explorer to cross the Atlantic Ocean to the Caribbean.
Who is Christopher Columbus?
United States of America.
What is Democratic Republic?
Half the earth.
What is hemisphere?
The original name of the trade route to China from Europe.
What is the Silk Road?
Farms and industry are privately owned and operated. Producers and consumers make most economic decisions. The US has this economy.
What is Market Economy?
Amerigo Vespucci (an Italian) said that Columbus had discovered a New World. It was the German mapmakers who named the new lands after Vespucci.
What are the Americas?
3 main political parties of the USA.
What are Democratic, Republican, and Independent parties?
4 of these.
What are oceans?
This item does not belong: tomatoes, sweet potatoes, pumpkins, squash, beans, pineapples, bread.
What is bread?
Subsistence agriculture is practiced on small family farms. Economic decisions are based on custom and habit.
What is Traditional Economy?
Bartholomeu Dias was the first explorer to go around the tip of Cape of Storms.
What is Africa?
Imaginary lines run parallel to the Equator
What is Latitude?
Andes.
What are mountains in South America?
The item that was in highest demand from eastern hemisphere and was most valued.
What is spices?
Columbus started a vast global exchange of plants, animals, people, technology and disease that was given the name
What is the Columbian Exchange?
Hernan Cortez was this when commissioned to explore, trade, and search for Christian captives with several artillery pieces, 16 horsemen, and 500 or so infantry men.
What is a conquistador?
During the Atlantic Slave Trade (Triangular Trade) and to make plantations profitable, Native American population declined so rapidly, the Portuguese and Spanish had to import this.
What is Africans to replace people?
2 continents completely in the southern hemisphere.
What are Australia and Antarctica?
This was used to trade for slaves. (Name 2 of the 3)
What are guns, gun powder, and gold?
The demand for goods and services rise when goods become scarce
What is the Law of Supply and the Law of Demand? (The Law of Supply and Demand)
Expanded trade and the push for overseas empires spurred the growth of this, the investment of money to make a profit
What is Capitalism?
The ultimate goal of exploration and colonization is to make the new colony/country self-sufficient. Colonies are very important to the “Mother” country. (3 things - name 2 of the 3)
What is to provide raw materials to the “Mother” country, provide closed markets for “Mother” country’s manufactured goods, and to regulate economy for the “Mother” country?
It is a narrow strip of land with sea on either side, forming a link between two larger areas of land.
What is isthmus?
Europeans wanted to cut out the “Middleman” in the Middle East due to high costs and robbers in this type of trade.
What is the spice trade?