1. THE COLUMBIAN EXCHANGE

2. The Columbian Exchange was the transfer of During the colonization of the Americas FOOD, PLANTS, ANIMALS, DISEASES

3. It was called the Columbian Exchange because it started with Both Europeans & Native Americans were introduced to new foods & animals During the colonization of the Americas COLUMBUS

4. From America to Europe: CORN, POTATOES, SQUASH, TOMATOES, TURKEY, TOBACCO, PINEAPPLES

5. From Europe to America: BANANAS, WHEAT, RICE, HORSES, PIGS, SUGAR, GRAPES

6. THE COMMERCIAL REVOLUTION

7. The Commercial Revolution refers to changes in that began around the and continued on through the Age of Exploration It the economies of Europe TRADE & BUSINESS 1400’s TRANSFORMED

8. CAPITALISM One aspect of the Commercial Revolution was the of capitalism Capitalism: economic system based on ownership and of wealth for profit GROWTH PRIVATE INVESTMENT

9. CAPITALISM Due to overseas colonization and trade, were no longer the sole owners of wealth – so too were Merchants formed a new type of business= Company Joint-stock company – involved a number of people pooling their wealth Required large amounts of - needed a number of investors Investors their money in hopes of large profits Capitalism came to be known as the GOVERNMENTS/NOBLE S MERCHANTS JOINT- STOCK INVESTORS CAPITAL FREE ENTERPRISE SYSTEM RISKE D

10. MERCANTILISM Mercantilism: economic theory that a country’s power depended on its Under mercantilism a country needed colonies to provide wealth: materials (wood, furs) to make goods Colonies were & Goal under mercantilism – become It was important to have a good (sell) more than (buy) WEALTH SILVER & GOLD RAWFINISHED SUPPLIER S MARKETS SELF- SUFFICIENT BALANCE OF TRADE EXPORT IMPORT