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Age of Exploration
Unit 32
Term | Definition |
---|---|
cartography | the science and art of making maps |
colonies | a territory, often very large, under the political and economic control of another country |
detrimental | something that does harm or damage |
epidemics | an outbreak of a contagious disease that spreads quickly and over a wide geographic area |
inflation | a rise in prices, often due an increase in the supply of money |
capitalism | an economic system based on investment of money for profit |
market economy | an economy in which prices are determined by the buying and selling decisions of individuals in the marketplace |
cottage industry | a small-scale business in which people produce goods at home |
mercantilism | an economic policy by which nations try to gather wealth by establishing colonies and controlling trade |
policy | an overall plan, especially of a government |