How Did Capitalism Develop? :
How Did Capitalism Develop? Capitalism – an economic system in which $$ is invested in a business to make profits.
Think of a time when someone created a business…
Back in Europe the growing population demanded more goods, so more ppl started creating businesses.
What are joint-stock companies? :
What are joint-stock companies? Exploration was the “hot job” of the 1600s
Businesses wanted to profit from this new fad
Many businesses joined up, put their $ together and bought joint stock companies.
Slide 4:
Joint Stock Company – Organization that sold stock, or shares, in the exploration venture
Mid 17th century (that’s 1650), the Dutch East India Company was given right to carry out trade w/ Africa and East Indies. They could also set up colonies.
What is an entrepreneur? :
What is an entrepreneur? Entrepreneur – someone who combines $, ideas, raw materials, and labor to make goods and profits.
What is mercantilism and what is its relation to the colonies? :
What is mercantilism and what is its relation to the colonies? Mercantilism – idea that a nation becomes more powerful by building up it’s supply of gold and silver.
Many nations wanted to go to uncharted lands (like N.America) to find gold and silver.
They created colonies when they found it.
What is the Colombian Exchange (aka “The Slave Trade)? :
What is the Colombian Exchange (aka “The Slave Trade)? Trade b/t North America, Europe and Africa.
Look on pg. 96 in book, copy countries, arrows, and give some examples for items traded.
Humans became part of the exchange to plant sugar cane and tobacco in areas near the Caribbean Sea.