Vocabulary Change! First Global Age: The Americas, Africa, Southeast Asia, East Asia Columbian Exchange Inflation Entrepreneurs Capitalism Joint Stock.

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Presentation transcript:

Vocabulary Change! First Global Age: The Americas, Africa, Southeast Asia, East Asia Columbian Exchange Inflation Entrepreneurs Capitalism Joint Stock Company Mercantilism Tariff

The Columbian Exchange The exchange of people, plants, animals, technology, disease and other aspects of culture between the western and eastern hemispheres

Triangular Trade 1. DRAW 2. What are 3 effects on the development of Africa?

New foods = population explosion

Migration of people to America Europeans slaves

The rapid increase of prices Inflation The rapid increase of prices

Inflation Increased population = more demand for goods = scarcity of goods Increased money in circulation = money is worth less

Takes financial risks to make a profit Entrepreneurs Takes financial risks to make a profit

Production is privately owned Capitalism Production is privately owned

Private company that sells shares to finance business ventures Joint Stock Company Private company that sells shares to finance business ventures

Mercantilism Policy by which a nation sought to export more than it imported in effort to build its supply of gold and silver

Mercantilism