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7-1.4 - 7-1.5

Capitalism and Slave trade

Capitalism A system in which people, rather than governments, own property, make goods, and buy and sell them freely.
Middle Class A group made up of merchants and artisans.
Entrepreneur One who organizes, pays for, and takes on the risk of setting up a business.
Joint Stock Company A business in which investors buy shares in the company.
Commerce An exchange of goods, business
Free Enterprise The freedom of private business to compete for profits without government involvement.
Columbian Exchange A global exchange of people, goods, technology and ideas - and even diseases.
Immunity The body's ability to resist infection.
Trading Post Outposts for the purpose of trade.
Plantation Colony A colony made up of large estates or farms that used enslaved people or hired workers to grow and harvest crops.
Settlement Colony Territories governed by the homeland that hoped to attract enough people to establish a firm foothold in another land.
Indentured Servants European workers who signed contracts to work for a set number of years to pay off their trip to the Americas.
Encomienda System Spain awarded nobles large grants of land and gave them the right to use the labor of Native Americans.
Cash Crop Crops grown in large amounts to be sold for profit
Triangular Trade 3 legged trade journey between Europe- Africa and the Americas.
Viceroy Spanish royal representatives who they sent to the Americas to set the laws and regulate trade.
Atlantic Slave Trade Capture and transport of Africans into bondage in the Americas.
Middle Passage Middle part of the triangular trade that consisted of transporting enslaved Africans to the Americas.
Missionaries People who taught and spread Christianity.
Converts People who change their beliefs to another religion or faith.
Isolationism A policy of turning inwards from the world.
Created by: arenshaw