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10 Cards in this Set
- Front
- Back
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compass
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navagational instrument created in the 1300s that uses a piece of metal that points to the north
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joint stock company
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business organization developed during the commercial revolution in which owners raised money by selling shares (stocks) in the company
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mercantilism
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economic theory stating that there is a fixed amount of wealth in the world and that in order to receive a larger share one country has to take some wealth away from another country
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favorable balance of trade
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a country sells more then it buys
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tariffs
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import tax on foreign goods
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subsidies
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government grants of money (don't pay back)
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commercial revolution
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era between 1400 and 1750 when Europeans made major changes to their economy due to new exploration
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triangular trade
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system of trade involving three stages, one of which was the transatlantic slave trade
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middle passage
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second stage of the triangular trade which involved the shipping of slaves across the Atlantic to the Americas
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guerrilla warfare
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military technique relying on swift raids by small bands of soldiers
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