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23 Cards in this Set
- Front
- Back
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Absolutism
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Early modern theory of government claiming that monarchs were by divine right, entitled to rule absolutely (i.e. without reference to parliament or the assembled estates of the realm).
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Agency
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As used to mean power and control, independence, free from coercion or subjugation. it is used to show that black Africans did have self -determination, power and control in terms of the slave trade in Africa.
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Aggregate demand
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The total demand for goods and services, including demand arising from export markets and investments.
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Anglo-American evangelicalism
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A form of evangelicalism of the later eighteenth and nineteenth centuries that differed from the earlier evangelical reform movement in certain key respects, particularly in that it represented a moral current within Anglicanism and other Protestant sects rather than within the universal Catholic Church.
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Autocracy
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Absolute rule by a single person.
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Bill of exchange
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A written order requiring one person to make payment to a named payee or signatory at a specified future date. It is a negotiable instrument mainly used in international trade.
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Chartered company/corporation
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In the early modern period, a company of merchants granted exclusive commercial rights by royal charter.
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Chattel slavery
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The ownership of one person by another; legally enforceable property rights in people. These included the rights to the slaves' productive labour, the right to posses women slaves sexually, and ownership of any child born of a female slave. Slavery was therefore a perpetual status for a class of coerced workers.
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Commodity production
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Production of any goods for the market or monetary exchange.
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Creole
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A term defined in a number of ways but generally a person of mixed European and black descent born in the Caribbean or a descendant of European settlers in the Caribbean.
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Division of labour
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A system in which the tasks needed to manufacture an item are performed by a number of labourers, each having a specific role and only making part of the whole item. It represents a shift from a system in which one person would perform a number of tasks to manufacture one item.
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Econometric
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Refers to the measurement of economic quantities; econometric history is essentially quantitative.
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Gross National Product (GNP)
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The total market value of the goods and services produced in a designated economy in a specified time (usually a year). GNP is theoretically equivalent to gross national income; i.e. the income from the goods and services marketed in a specified time.
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Gross Industrial Product (GIP)
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The total market value of the output of manufacturing.
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l'exclusif (French)
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Term used for the system of mercantile regulation in seventeenth and eighteenth century France.
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Labour productivity
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The rate of output of a given unit of labour in a specified time.
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Manumission
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Legal process by which a slave was granted his or her freedom.
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Maroons
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From the Spanish, cimarron (wild); applied to runaway slaves, especially those who had formed autonomous communities beyond the reach of planter power.
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Nonconformism
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In terms of eighteenth-century religion, this refers to the faith of those who did not conform to the established Anglican church, such as Roman Catholics, jews and other Protestant sects. Nonconformist Protestant sects are sometimes referred to as dissenters.
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Primary/secondary/tertiary employment
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The labour force is conventionally divided into a primary sectory (agriculture, fishing, forestry), a secondary sector (manufacturing, building, mining) and a tertiary sector (services).
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Primitive accumulation
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A Marxist term for the early stage of development of modern capitalism when capital was accumulated by violent plunder overseas and the brutal dispossession of primary producers of their rights to common land.
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Slatee
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Term used throughout West Africa for a Muslim slave merchant.
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Supply and demand
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Supply means the goods that producers will supply at different prices; demand refers to the quantity of goods demanded by consumers at any given price. Market economics assumes that equilibrium will be achieved between supply and demand through prices.
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