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Stack #53227
| Question | Answer |
|---|---|
| mercantilism | an economic policy that stressed the accumulation of gold and silver, the founding of colonies and the regulation of their trade, and profiting from foreign trade. |
| balance of trade | the difference in value between imports and exports |
| inflation | a sharp, steady rise in prices casued by a scarcity of goods and excess demand |
| capitalism | an economic system based on the private ownership and use of the capital; also called the free enterprise system |
| market economy | an economic system based on the buying and selling of goods and services with little or no government intervention |
| indentured servant | an individual whoa greed to work a certain number of years in exchange for passage to a new land |
| middle passage | the route taken by salve ships that acrried enslaved africans to the americas, part of the triansgular trade route linking europe, africa and the americas |
| abolitionist | a refroerm who opposed slavery |
| commercial revolution | the period of western history (1450-1700) when new resources and new business practices resulted in great changes |
| law of supply and demand | an economic principle based ont he premise that increased demand for a product willd rive the price up while a surplus will force the price down |
| joint stock company | a company financed by the selling of shares of stock that gives the pruchasers partial ownership |
Created by:
lilee256