Vocabulary
Columbian Exchange- The global transfer of plants, animals, and diseases that occurred during the European colonization of the Americans
Capitalism- An economic system based on private ownership and the investment of resources such as money for profit.
Joint-Stock Company- Works just like the modern-day corporation. Investors buy shares of stock in a company.
Mercantilism- An economic policy under which nations sought to increase their power by obtaining large amounts of gold and silver by selling more goods than they bought
Favorable Balance of Trade- A nation sold more goods than it bought.