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WHPN CH 15 Sec 1

History

QuestionAnswer
System under which ruler has total control of state and increases ? Absolute Monarchy
Navigational Instrument to indicate Direction? Compass
Navigational Instrument to indicate Latitude? Astrolabe
Distance North or South of Equator? Latitude
Long Ships propelled by Oars? Galleys
Name given to changes in European Economy that took place 1400-1750? Commercial Revolution
Company that raised money by selling shares in itself to investors? Joint-Stock Company
Economic Theory that to Increase It's Wealth a country had to Take Wealth From Other Countries? Mercantilism
A condition in which a Country Sells more to Other Countries Than it Buys From Them? Favorable Balance of Trade
Import Taxes on Foreign Goods? Tariffs
Government Grants of Money? Subsidies
Describe the influence of Science in Navigational aids and Ship Construction that made Long-Range Exporation possible? 1) Better Mapmaking 2) Navigation instruments/ Compass & Astrolabe 3) Improvements in Rudder & Sails of Ships
What was the Importance of the Commercial Revolution? 1)Better Ways of doing Business 2)Standardization of Money // Engouraged Trade, Banks could accumulate funds to finance Governments and Expeditions and Trading Companies
What Role did Colonies Play in Mercantilism? Colonies provided gold, silver & raw materials that the home country did not have. They did not have to BUY from a foreign rival. Money never left the Empire. Colonies Served as Markets for the nations manufactured goods.
When did European navigators create a true compass by fising a magnetized needle to a card marked with directions? During the 1300's
What two disciplines did the Astrolabe apply to navigation? 1) Astronomy 2) Geometry
What kind of ships conducted most European coastal trade before and during the 1400's? Galleys
How did shipbuilders of the late 1400's change the location of a ship'srudder? They MOVED IT from the side to the stern
Who financed the voyages of exploration of the 1400's & 1500's? The stronger and more ambitious central governments that emerged during this period.
Who led the way in minting coins that had a fixed value? The Italian Cities
Which economic theory maintained that the world contained only a fixed amount of wealth and with a desire to find new wealth, competition among nations grew radidly, this was called? Mercantilism
HJow do tariffs on foreign goods influence buying habits? They discourage people from buying foreign goods
How did home countries keep strict economic control of their colonies? Governments passed laws preventing colonists from buying foreign manufactured goods & from selling Raw materials to any country but the HOME country
Why did French Huguenots and English Puritans decide to resettle in the New World" ? To escape religious & political persecution in their homelands.
History is a series of what? Causes and Effects
Early Europeand discoverd that an iron needle rebbed against a piece of Lodestone magnetized the needle making it continually point in what direction when placed in water? North
What is the magnetic type rock that magnetizes a compass needle? Lodestone
What navigational instrument used geometry and astronomy to help sailors navigate the oceans by calculating the Horizon? Astrolabe
Spanish and Portugese shipbuilders designed ships called? Galleys
What could the Galleys do better than previous ships built? 1) Sail in deeper waters 2) Sail against the Wind 3) Carry more people
What protections did the invention of the ships canon provide? 1) Travel long distances without fear of pirates.
Name two influences of economics? 1) Standardization of Money 2) Joint-Stock companies
What made Economic tranactions more reliable? 1) Standardization of Money Seystems
Reliable economic transactions encouraged what? 1) The Growth of Trade
The growth of trade cause merchants to do what? 1) Accumulate more money and put into Banks
With large deposits of money what could Banks do? 1) Lend Money to the Government and Merchants for overseas exploration and expansion
With large amounts of money what could Merchants do? 1) Band together (Pool their Money) and act as backers for overseas exploration and trade. (Joint Stock Company
T or F, Governments have the responsibility to increase their countries wealth through whatever means necessary in order to help civilization prosper. True
The rise of Absolu te Monarchies (governments in which the ruler has total control over state)increases what? Mercantilism
A favorable trade balance for selling is? Sell / To Export more *MAKE Money
A favorable trade balance for buying is? Buy / Import Less *SPEND Money
T or F, We want to EXPORT (Make Money) more than we IMPORT (Spend Money)? True
What is a Tariff? A tax added to the cost of a product or service to make it competitive with similar products or services.
What is a Subsidy? A Financial Gift added to the cost of a product or service to make it competitive with similar products or services.
What was it called when Mercantilism motivated the European countries to begin exploring for new lands that would produce goods and provide resources to benefit the home country? Colonization
T or F, Sometimes the Home country would Restrict the colonies from producing their own goods, forcing them to buy from the Home country or Try them without representation? True
In Section 1 name the 4 most important concepts of this great period of European exploration and Discovery beginning in the 1400's? 1)Tech advances/mapmaking/navigation tools 2)Powerful Central Gov for exploration/prestige 3)Economic theory of Mercantilism 4) Social Factors like overcrowding and desire for Religious Freedom
Created by: v2013l
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