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Global Chapter 18

Scientific Revolution and the Age of Exploration

QuestionAnswer
What is mercantilism based on? Colonies providing raw materials to the home country and buying finished products from it as well thus increasing the home country's wealth.
What was Adam Smith's contribution to economics? He wrote the book Wealth of Nations that explained how a free market economy works.
What were the triangular trade routes? They were trade routes across the Atlantic Ocean in which Europeans brought guns and iron to Africa for slaves that were brought to the Americas in exchange for sugar, cotton and tobacco.
Created by: Kickstack
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