Europeans expansion and business
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Europeans Expansion and Business. Standard 7-1.3: Summarize the policy of Mercantilism & Standard 7.1.4: Analyze the beginning of Capitalism. Vocabulary. 1. Export/Import 2. Mercantilism 3. Capitalism 4. Market 5. Market Economy 6. Balance of Trade 7. Tariffs 8. Middle Class

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Europeans Expansion and Business

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Europeans Expansion and Business

Standard 7-1.3: Summarize the policy of Mercantilism

&

Standard 7.1.4: Analyze the beginning of Capitalism


Vocabulary

1. Export/Import

2. Mercantilism

3. Capitalism

4. Market

5. Market Economy

6. Balance of Trade

7. Tariffs

8. Middle Class

9. Entrepreneur

10. Capital


1. Economic Changes in Europe Resulted from:

Growth of International Trade

Discovery and colonization of New World

Growing Merchant Class (to sell goods)

Complex Economy


Why did Britain want colonies?

  • Colonies = Land, Power, Raw Materials ($$)

  • Colonies = Market for finished goods ($$)

  • Colonists could be taxed ($$)

    =


2. Mercantilism

European countries believed the more bullion (gold and silver) the more powerful you were.

Government sought to control and regulate trade- balance of trade.


3. Making $ by Mercantilism [step-by-step]

than imports

more exports

  • export more than you import

  • build colonies

    • raw materials and products to export

    • use as a market for finished products.


3. Steps Continued

keep foreign goods out of your country with high tariffs, or taxes.

increase imports by preventing colonies from trading with other nations- colonies can only trade with the mother country.


Effects of Mercantilism


4. Capitalism

  • Shift to private ownership of property

  • make goods and buy and sell them freely

    • foundations of capitalism.

  • Driven by the desire to make a profit.


Entrepreneurs

  • Entrepreneurs risk money in hopes of earning a profit.

  • Some projects were too large for one person so joint-stock companies were formed.


New Class of People- Middle Class

  • Merchants and businessmen

  • Take risks to make a profit off of international trade

  • Contributed to a growing market economy


What is a market economy?

  • Economic system based on the exchange of goods and services for the purpose of making capital(money $$)

  • The market place

    • Supply and Demand

      • Supply Demand

  • Laissez-faire (Let Alone)

    • No government interference


5. What creates Capitalism?

Mercantilism

International Trade

Rise of the middle class

Developing market economy


6. The Columbian Exchange

The movement of goods, ideas, people, and disease across the Atlantic is called the Columbian Exchange.


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