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Columbia Exchange
Chapter 20 Section 4
Question | Answer |
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What was the Columbian Exchange? | (noun) The global transfer of plants, animals and diseases that occurred during the European colonization of the Americas. |
What is capitalism? | (noun) An economic system based on private ownership and on the investment of money in business ventures in order to make a profit. |
What is a joint-stock company? | (noun) A business in which investors pool their wealth for a common purpose, then share the profits. |
What is mercantilism? | (noun) An economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by selling more goods than they bought. |
What is a favorable balance of trade? | (noun) An economic situation in which a country sells more goods abroad than it buys from abroad. |