Please enter the room quietly and make note of the daily objective, class work and homework in your agendas.

2. Please enter the room quietly and make note of the daily objective, class work and homework in your agendas. Will the person responsible for retrieving the journals for your table please do so.

3. Vocab Word Search (pages 552 - 557): Capitalism - Cottage Industry - Traditional Economy - Market Economy - Mercantilism -

4. Vocab Word Search (pages 552 - 557): An economy based on the private ownership of property and the use of property to compete for profit, or gains, in a market. Capitalism - Cottage Industry - Traditional Economy - Market Economy - Mercantilism -

5. Vocab Word Search (pages 552 - 557): An economy based on the private ownership of property and the use of property to compete for profit, or gains, in a market. Capitalism - Cottage Industry - The use of workers who work at home with their own equipment. Traditional Economy - Market Economy - Mercantilism -

6. Vocab Word Search (pages 552 - 557): An economy based on the private ownership of property and the use of property to compete for profit, or gains, in a market. Capitalism - Cottage Industry - The use of workers who work at home with their own equipment. An economy in which the exchange of goods is based on custom. Traditional Economy - Market Economy - Mercantilism -

7. Vocab Word Search (pages 552 - 557): An economy based on the private ownership of property and the use of property to compete for profit, or gains, in a market. Capitalism - Cottage Industry - The use of workers who work at home with their own equipment. An economy in which the exchange of goods is based on custom. Traditional Economy - An economy in which prices and the distribution of goods are based on competition in a market. Market Economy - Mercantilism -

8. Vocab Word Search (pages 552 - 557): An economy based on the private ownership of property and the use of property to compete for profit, or gains, in a market. Capitalism - Cottage Industry - The use of workers who work at home with their own equipment. An economy in which the exchange of goods is based on custom. Traditional Economy - An economy in which prices and the distribution of goods are based on competition in a market. Market Economy - Mercantilism - An economic policy that promotes building a nation's strength by expanding its trade.

9. ` The Origins of Modern Capitalism How did capitalism and mercantilism develop?

10. The Price Revolution

11. Read the section The Price Revolution on page 534 answer these questions: 1) What is the free market and what does the interplay of supply and demand determine? 2) What were the two causes of the price revolution?

12. Read the section The Price Revolution on page 534 answer these questions: 1) What is the free market and what does the interplay of supply and demand determine? It is where sellers compete to supply goods. It determines the prices of goods. 2) What were the two causes of the price revolution?

13. Read the section The Price Revolution on page 534 answer these questions: 1) What is the free market and what does the interplay of supply and demand determine? It is where sellers compete to supply goods. It determines the prices of goods. 2) What were the two causes of the price revolution? One was rapid population growth, the other was gold and silver from the Americas.

14. Read the section The Price Revolution on page 534 answer these questions: 3) What did higher prices lead to and what did landowners do with the profits? 4) What a key part of capitalism?

15. Read the section The Price Revolution on page 534 answer these questions: 3) What did higher prices lead to and what did landowners do with the profits? Higher prices led to greater profits and the landowners used the profits to invest in their businesses. 4) What a key part of capitalism?

16. Read the section The Price Revolution on page 534 answer these questions: 3) What did higher prices lead to and what did landowners do with the profits? Higher prices led to greater profits and the landowners used the profits to invest in their businesses. 4) What a key part of capitalism? Using money, or capital, to make even more profits.

17. The Primary Goal of Capitalism: Invest in tools and materials. 2 Use money (capital) That you sell to make the most amount of profit possible. 1 4 3 To make products.

18. Changes in Agriculture

19. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 1) What is another important aspect of capitalism and in and what is bought and sold for profit? 2) In a capitalist economy what did some people own?

20. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 1) What is another important aspect of capitalism and in and what is bought and sold for profit? Landownership and land is bought and sold for a profit. 2) In a capitalist economy what did some people own?

21. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 1) What is another important aspect of capitalism and in and what is bought and sold for profit? Landownership and land is bought and sold for a profit. 2) In a capitalist economy what did some people own? Some people owned the land, tools and seeds needed to grow crops.

22. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 3) How did the price revolution benefit landowners? 4) What did Dutch and English landowners do to increase profit and why?

23. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 3) How did the price revolution benefit landowners? Higher prices for crops led to greater profits. 4) What did Dutch and English landowners do to increase profit and why?

24. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 3) How did the price revolution benefit landowners? Higher prices for crops led to greater profits. 4) What did Dutch and English landowners do to increase profit and why? They began to force peasants off of their land so that they could then use all of their land to produce wool and other profitable farm products to sell.

25. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 5) What were the options that peasants had in the new capitalist system?

26. Read the section Changes in Agriculture on page 553 - 554 and answer these questions: 5) What were the options that peasants had in the new capitalist system? They could work as farm laborers or seek new ways to make a living.

27. Ownership of: Land + Tools + Peasants in the old system before capitalism had to either become farm workers on the landowners farm or work somewhere else. Seeds = Larger Profit

28. Changes in Industry

29. Read the section Changes in Industry on pages 554 - 555 and answer these questions: 1) How were cloth merchants like landowners and what did they hope to do? 2) Why did cloth merchants avoid towns?

30. Read the section Changes in Industry on pages 554 - 555 and answer these questions: 1) How were cloth merchants like landowners and what did they hope to do? Cloth merchants wanted to produce their goods in a more efficient way. They hoped to make cloth more cheaply so they could earn even bigger profits. 2) Why did cloth merchants avoid towns?

31. Read the section Changes in Industry on pages 554 - 555 and answer these questions: 1) How were cloth merchants like landowners and what did they hope to do? Cloth merchants wanted to produce their goods in a more efficient way. They hoped to make cloth more cheaply so they could earn even bigger profits. 2) Why did cloth merchants avoid towns? That's where guilds had set rules about cloth prices and quality.

32. Read the section Changes in Industry on pages 554 - 555 and answer these questions: 3) What industries did English and Dutch capitalists invest their money in?

33. Read the section Changes in Industry on pages 554 - 555 and answer these questions: 3) What industries did English and Dutch capitalists invest their money in? The English invested in coal mines, ironworks, breweries, and shipyards. The Dutch invested in printing, diamond-cutting, sugar-refining, and chocolate.

34. English invest in: Dutch invest in: Sugar refining Shipyards Chocolate Coal Mines Diamonds Iron works

35. A Market Economy

36. Read the section A Market Economy on page 555 and answer these questions: 1) What type of an economy were European nations moving away from? 2) What is the difference between a market and a traditional economy?

37. Read the section A Market Economy on page 555 and answer these questions: 1) What type of an economy were European nations moving away from? They were moving away from a traditional economy. 2) What is the difference between a market and a traditional economy?

38. Read the section A Market Economy on page 555 and answer these questions: 1) What type of an economy were European nations moving away from? They were moving away from a traditional economy. 2) What is the difference between a market and a traditional economy? In a market economy, prices are not fixed by guilds, by the government, or by custom. Instead, forces of supply and demand set prices.

39. Market Economy Traditional Economy Marketplace Guilds Government Goods Prices are fixed by the guilds and the government. Prices for goods are created by supply and demand. The more demand and less supply the price goes up.

40. Mercantilism & The Mercantilist Policy

41. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 1) What was the main goal of trade in Mercantilism? 2) What did Mercantilists believe the main goal of trade was?

42. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 1) What was the main goal of trade in Mercantilism? The goal was to bring as much wealth as possible into the country. 2) What did Mercantilists believe the main goal of trade was?

43. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 1) What was the main goal of trade in Mercantilism? The goal was to bring as much wealth as possible into the country. 2) What did Mercantilists believe the main goal of trade was? It was to make a nation more powerful.

44. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 3) How did traders make nations more powerful, what did they spend their money on? 4) What did Mercantilists argue?

45. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 3) How did traders make nations more powerful, what did they spend their money on? They traded their goods for gold and silver and they spent their money on a powerful army and navy. 4) What did Mercantilists argue?

46. Read the sections Mercantilism & The Mercantilist Policy on pages 556 - 557 and answer these questions: 3) How did traders make nations more powerful, what did they spend their money on? They traded their goods for gold and silver and they spent their money on a powerful army and navy. 4) What did Mercantilists argue? The best way to increase a nation's wealth was to export more valuable goods than it imported.

47. Mercantile policy states: Trade valuable goods To purchase a powerful army. For gold and silver The best way for a country to become powerful is to have a powerful army. And the best way for a country to become wealthy is to sell more valuable products than it buys.

48. The Impact on Mercantilism Do you remember the Columbian Exchange?

49. Read the section The Impact on Mercantilism on page 557 and answer these questions: 1) Why did European nations tax imports? 2) What two things did founding colonies accomplish?

50. Read the section The Impact on Mercantilism on page 557 and answer these questions: 1) Why did European nations tax imports? To keep foreign goods out. 2) What two things did founding colonies accomplish?