Unit 1 AP Euro

Capital

money or property that is used for investment to make more money

Capitalism

an economic and political system in which a country's trade and industry are controlled by private owners for profit.

means of production

the factories, machines, tools, raw materials, land, and financial capital needed to make things

means

a way to get something accomplished

market economy

Economic decisions are made by individuals or the open market, rather than the government

Entrepreneur

A person who organizes, manages, and takes on the risks of a business.

Medici

A powerful Italian family of bankers and merchants whose members effectively ruled Florence for much of the 15th century

Fuggers

leading banking family of Germany during the 15th and 16th century

money economy

an economic system based on money rather than barter

barter economy

economic system in which one set of goods or services is exchanged for another

double-entry bookkeeping

Bookkeepers record all transactions in two places so they can check one list of transactions against the other for accuracy.

joint-stock company

A company made up of a group of shareholders. Each shareholder contributes some money to the company, sharing the risk with others and receiving some share of the company's profits in exchange

stock

A share of ownership in a company

Dividends

payments of cash from a corporation to its stockholders

Dutch East India Company

a trading company established by the Netherlands in 1602 to protect and expand its trade in Asia

British East India Company

A joint stock company that controlled most of India during the period of imperialism. This company controlled the political, social, and economic life in India for more than 200 years.

Genoa

A seaport town in Italy

Amsterdam

Major trading port and financial center in the Netherlands

London

Capital of England and the center of Banking and Stock Exchange in England

commerce

the buying and selling of goods and services; trade

hierarchy

a system or organization in which people or groups are ranked one above the other according to status or authority.

Manor

A large estate, often including farms and a village, ruled by a lord.

landlord

owner of rental property

Peasants

people who worked the land or served the nobles

Serfdom

Institution in which a peasant is attached to a feudal estate and is not free to leave

subsistence agriculture

Agriculture designed primarily to provide food for direct consumption by the farmer and the farmer's family, rather than to sell in a market for profit

Little Ice Age

A century-long period of cool climate that began in the 1590s. Its bad effects on agriculture in northern Europe were notable.

Great Plague

Recurrence of the Black Death in England 1665-1666

open-field system

division of large fields into long, narrow strips that are each then farmed by individual peasants.

the commons

land or resources belonging to the whole of a community. Such as a grazing field for animals.

crop rotation

The planting of different crops in a field each year to maintain the soil's fertility.

two-field system

planting crops on only half of the cultivated land, leaving the other half to lie fallow (unplanted) for a year to recover its fertility

three-field system

A rotational system for agriculture in which one field grows grain, one grows legumes, and one lies fallow.

fallow

a plowed field that is not planted in order to let the soil "rest".

Inflation

A continuous rise in the price of goods and services

Price Revolution

increase in prices in 16th century-inflation-increased demand for goods-in part because of an influx of gold and silver from the Americas

Commercial Agriculture

Agriculture undertaken primarily to generate products for sale off the farm for a profit.

Enclosure Movement

practice of fencing or enclosing common lands into individual holdings, which happened in the 18th c in England.

agricultural commodities

staple crops and animals produced or raised on farms or plantations to be sold in the market for a profit

Migrants

people who leave their homes to work for a time in other regions or countries

Jesuits

Also known as the Society of Jesus; founded by Ignatius Loyola (1491-1556) as a teaching and missionary order to resist the spread of Protestantism.

Marco Polo

13th Century Venetian Italian explorer who wrote about his travels to Central Asia and China inspiring interest in trade with the East

Ottoman Empire

A Muslim empire based in modern day Turkey that lasted from the 1300's to 1922. Blocked trade routes to East, forcing ocean exploration.

mercantilism

An economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by selling more goods than they bought

Favorable Balance of Trade

an economic situation in which a country sells more goods abroad than it buys from abroad, it is essential for Mercantilism

Exports

Goods and Services sold to other countries

Imports

goods and services purchased from other countries

colony

a country or area under the full or partial political control of another country, typically a distant one, and occupied by settlers from that country.

Jean Baptiste Colbert

Chief Minister of Finance under Louis XIV, huge supporter of Mercantilism.

navigation

the science of planning and controlling the direction of a ship

portolani

the charts of landmasses and coastlines made by navigators and mathematicians in the thirteenth and fourteenth centuries

cartography

The science of making maps

lateen sails

A triangular sail attached to a short mast, makes steering ship with the wind more manageable.

sternpost rudder

invented in China during the Han Dynasty, it allowed for better navigation and control of ships of increasing size. The Europeans adopted it in 15th Century.

astrolabe

An instrument used by sailors to determine their location by observing the position of the stars and planets

quadrant

a smaller and lighter version of the Astrolabe that helped sailors determine their location.

compass

navigational instrument that uses magnets for determining directions

decentralized power

A form of government in which individual state or local governments have most decision-making authority, rather than one powerful leader/gov't

centralized power

power in the hands of one, single ruler who controls a powerful bureaucracy to control people under its control.

Henry VIII

King of England who broke with the Church to establish Church of England. Fought wars of power with other New Monarchs. Example of New Monarch

Mary Tudor

daughter of Henry and Catherine of Aragon; as queen, she tried to restore Catholicism in England

Act of Supremacy

1534 Declared the king to be head of the English church rather than the Pope (created by Henry VIII)

Elizabeth I

English Queen and politique who united Protestants and Catholics through compromise and led England into its "Golden Age" Example of New Monarch

New Monarchies

Monarchies that emerged that differed from their medieval predecessors in having greater centralization of power, more regional boundaries, and stronger representative institutions

modern state

A political unit within which citizens identify with the state (country) rather than personal loyalty to a noble and see the state as legitimate. This state has a monopoly over the use of force and is able to provide citizens with key services.

King Ferdinand

King of Aragon who married and allied with Queen Isabella of Castile, using religion and exploration as a tool to unify the Iberian Peninsula. Example of New Monarch

Isabella I

Queen of Castile who married and allied with Ferdinand of Aragon, using religion and exploration as a tool to unify the Iberian Peninsula. Example of New Monarch

Concordat of Bologna

Treaty under which the French Crown recognized the Pope's right to take all tithes (donations to the Church) in France in exchange for the right of the French Monarch to nominate all French bishops and abbots (1516)

Edict of Nantes

Issued by Henry IV of France, it legalized Protestantism in France (it says you caaaaannnnt hurt the protestaaaaannnnts in Fraaaaance)

Huguenots

French Protestants

gentry

wealthy landowners who did not have titles of nobility

Star Chamber

English law court created by Henry VII to punish enemies & control more powerful nobles who might challenge the Crown.

Diet of Augsburg

Called by Charles V. This meeting of Protestant and Catholic reps assembled to impose a settlement of the religious divisions. Charles V wanted all Lutherans to revert to Catholicism. As a result, the Lutherans formed the Schmalkaldic League.

Schmalkaldic League

Protestant alliance formed by Lutherans against the Holy Roman Empire.

Peace of Augsburg

1555 agreement declaring that the religion of each German state would be decided by its ruler

guild

A medieval organization of crafts workers or trades people that controlled local trade, prices, standards.

nobles of the robe

FRENCH aristocracy whose nobility came from serving in the BUREAUCRACY or BUYING their title, rather than traditional military support for the monarchy.

Machiavellianism

behavior directed at gaining power and controlling the behavior of others. used by many New Monarchs.

Jean Bodin

Writer who believed that only absolutism could provide order and force people to obey the government.

absolute sovereignty

A belief that a government has the right to do whatever it wants in its own territory

Hugo Grotius

Laid the foundation for international law and diplomacy and the treatment of civilians during war.

natural law

The belief that humans are born with innate rights and rulers have a duty to respect those rights and govern using rational laws based in reason.

bureaucracy

A system of managing government through departments run by appointed officials chosen by the person/people in power.

Maritime Power

A country that has strong naval forces and draws its economic and military power from its access to the ocean

edict

an official order or proclamation issued by a person in authority

politique

A person in power who takes action based on what is practical for them to keep power, rather than on ideals or religious fanaticism

Cuius regio, eius religio

Whose realm, his religion (the leader decides what religion their country will be)

Portugal

First European Country to engage in African Slave Trade

Planter Society

Stretching from the Chesapeake Bay (mid-Atlantic) to Brazil and in other parts of the world that produced crops, especially sugar, cotton and tobacco using slave labor on large estates.

Demographics

the characteristics of a population with respect to age, race, and gender.

Demographic Catastrophe

a high mortality rate in a particular portion of the population (such as Native Americans)

increased demand

when a need for a product goes up, leading to attempts to create more of something (such as cotton or sugar)

Triangle Trade

the extensive exchange of slaves, sugar, cotton, and furs between Europe, Africa, and the Americas that transformed economic, political, and social life on both sides of the Atlantic

Middle Passage

the horrific sea journey undertaken by slave ships from West Africa to the West Indies.

Forced Migration

Human migration flows in which the people moving are not doing so because of their own choice (such as the slave trade).

Olaudah Equiano

An antislavery activist who wrote a famous account of his enslavement.

Chattel Slavery

A system of bondage in which a slave has the legal status of property and so can be bought and sold like property.

Prince Henry the Navigator

(1394-1460) Prince of Portugal who established an observatory and school of navigation and directed voyages that spurred the growth of Portugal's colonial empire.

Gold Coast

Southern coast of West Africa where Portugese fleets sponsored by Prince Henry the Navigator discovered and stole new source of gold.

Bartolomeu Dias

Portuguese explorer who rounded the tip of Africa