1. Vocabulary
Change! First Global Age: The Americas, Africa, Southeast Asia, East Asia Columbian Exchange Inflation Entrepreneurs Capitalism Joint Stock Company Mercantilism Tariff

2. The Columbian Exchange
The exchange of people, plants, animals, technology, disease and other aspects of culture between the western and eastern hemispheres

4. Triangular Trade 1. DRAW 2. What are 3 effects on the development of Africa?

5. New foods = population explosion

6. Migration of people to America
Europeans
slaves

7. The rapid increase of prices
Inflation
The rapid increase of prices

8. Inflation
Increased population = more demand for goods = scarcity of goods
Increased money in circulation = money is worth less

9. Takes financial risks to make a profit
Entrepreneurs
Takes financial risks to make a profit

10. Production is privately owned
Capitalism
Production is privately owned

11. Private company that sells shares to finance business ventures
Joint Stock Company
Private company that sells shares to finance business ventures

12. Mercantilism
Policy by which a nation sought to export more than it imported in effort to build its supply of gold and silver

13. Mercantilism