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Columbia Exchange

Chapter 20 Section 4

QuestionAnswer
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.
Created by: camillelfsow