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graphic organ. 7-1.6

TermDefinition
Columbian Exchange the movement of goods, people, ideas, and diseases across the Atlantic.
mercantilism the theory that a nation became powerful by building up a large supply of gold and silver (bullion).
bullion gold and silver.
export to sell goods to other countries.
import to buy goods from other countries.
balance of trade the difference between what a nation imports and exports.
tariffs placing high taxes on foreign goods in order to keep them out of your country.
commerce the buying and selling of goods in large quantities over long distances.
entrepreneurs a business person willing to risk money in hopes of earning a profit.
joint-stock company allowed individual entrepreneurs (investors) to buy stocks, or shares, in a company.
social class a group of people who share a similar position in society
middle class a new social class triggered by the wealth from trade, made up of merchants and artisans. Earned its income by investing or working in commerce.
capitalism a system in which people, rather than governments, own property, make goods, and buy and sell them freely.
capital money used to invest in a business.
free enterprise the freedom of private businesses to compete for profits without government involvement.
Created by: 10020035
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