1. 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!

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

3. 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

4. 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

5. 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

6. 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

7. 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

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

9. 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

10. 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.

11. 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 to take a practice test to study for your quest.