Bellringer: 10/24 and 10/25 Pick up papers by the door. Turn in your Tokugawa Japan worksheet if you didn’t last class. Turn it into the class drawer. Update your ToC: 40: Notes – Commercial Revolution + Mercantilism 41: Worksheet – Commercial Revolution 42: Global Trade Study Guide Write down your HW: Finish your study guide Study for your Global Trade quest NEXT CLASS!

Review Q: What was the Columbian Exchange? The global exchange of ideas, products, goods, and diseases Starts after Columbus’ voyage to the Americas

Effects of the Columbian Exchange Short-term: Defeat of the Incan and Aztec empires Diseases spread Rise of slave trade American foods (corn, potatoes) introduced in Europe

Effects of the Columbian Exchange Long-term: Spread of items worldwide Population growth Exchange of ideas, technology, arts Growth of capitalism Population migration from Europe to the Americas

New Economic Policies Emerge What is a tariff? Taxes on imported goods Used by mother country on colonies to make $$ What is mercantilism? Policy to strengthen the economies of European nations at the expense of other areas (European countries benefit most) # of exports > # of imports Examples? Any European country and its colonies

The Commercial Revolution What is Inflation? rise in prices of everyday goods due to the increase in population and increase in demand for goods and the increase in money circulating Is inflation good or bad? Bad! It causes prices to go up Where does it happen? In European countries WHY? Excess in gold and silver  excess money printed More demand in European countries = higher prices

The Commercial Revolution What is capitalism? Capitalism is a system involving private ownership of businesses and a desire to make profit Involves investment of money to make a profit Increase in the number of entrepreneurs (people who invest money to take a risk at making money) Includes joint-stock companies—funding for overseas ventures Means you are buying a share in a company – lots of people own small parts of companies

The Commercial Revolution So what is the Commercial Revolution? The change from mercantilism to capitalism as the dominant econ. System in the world.

Looking Ahead 1. Voyages to New World marked start of European domination 2. Exposure to new culture, food, art, etc. 3. Western European nations = make a lot of $ 4. Conflict between European nations and each other/rest of the world

Point to Ponder: What are some of the extra-long term effects of this? In other words, how does this have impact centuries after it happens—even into our world at present.

After notes… 1. Work on your Commercial Revolution document worksheet. 2. When done, get a Study Guide for your Global Trade quest next class. 3. If you finish that, go to join.quizizz.com and type in the code 000044 to take a practice test to study for your quest.