The Columbian Exchange and Its Impact

These flashcards cover key concepts related to the Columbian Exchange, its economic implications, and historical significance.

What is the Columbian Exchange?

The global transfer of foods, plants, and animals during the colonization of the Americas.

What were two significant crops that traveled from the Americas to the rest of the world?

Corn and potatoes.

Which disease was notably spread to Native Americans during the Columbian Exchange?

Smallpox.

What economic system is based on private ownership and the investment of resources for profit?

Capitalism.

What is mercantilism?

An economic theory that a country’s power depends mainly on its wealth.

What was the significance of joint-stock companies in colonization?

They allowed multiple investors to share the costs and risks of colonization.

How did the Columbian Exchange impact food security globally?

It introduced nutritious crops like potatoes, which helped boost populations.

What livestock was introduced to the Americas by Europeans?

Horses, cattle, sheep, and pigs.

What were some foods that migrated from Africa to the Americas during the Columbian Exchange?

Bananas, black-eyed peas, and yams.

Why did inflation occur in Europe during the economic revolution?

Increased money supply due to wealth from the Americas raised demand for goods.

What role did colonies play in the practice of mercantilism?

They provided raw materials and served as markets for goods.

Which modern entity resembles the joint-stock company of the 16th and 17th centuries?

The modern corporation.

What were some negative consequences of the Columbian Exchange for Native Americans?

Devastation from diseases like smallpox led to millions of deaths.

How did potatoes specifically affect European diets?

Potatoes were inexpensive to grow and nutritious, contributing to improved health.

What was one way mercantilism was practiced by England?

By establishing colonies that supplied raw materials and markets for finished goods.

What was the main goal of mercantilism?

To acquire as much wealth as possible, particularly gold.

What is a favorable balance of trade?

When a country sells more goods than it buys.

Which European country first established a colony in North America?

England.

What did Thomas Mun advocate regarding foreign trade?

To sell more to strangers than is consumed from them in value.

Why were merchants significant during the economic revolution?

They controlled great wealth and spurred economic growth and social mobility.

What agricultural product led to a famine in Ireland?

The potato.

What was one of the main benefits of introducing new crops like tomatoes and tobacco to Europe?

They diversified diets and created new trade opportunities.

What general pattern of interaction did the Columbian Exchange create?

A network of global transfer of goods, ideas, and diseases.

Why were colonies viewed as vital to a nation’s wealth?

They provided both raw materials and markets for finished products.

What harsh social condition remained despite the economic revolution in Europe?

Most of the population continued to live in rural poverty.

How did the Columbian Exchange influence population growth?

By introducing nutritionally rich crops that allowed populations to thrive.

What animal became an important source of food in the Eastern Hemisphere?

The turkey.

What was a significant impact of the new business practices in Europe post-16th century?

They laid the groundwork for modern capitalism.

How did the introduction of sugar affect societies?

It created wealth for some and slavery for many.

What were some animals that traveled from the Americas to Europe during the Columbian Exchange?

Llamas and guinea pigs.