AP EH The Impact of European Expansion + Toward a World Economy

Charles V

In exchange for arranging large loans to ________, Jacob Fugger was given a monopoly over silver, copper, and mercury mines in the Habsburg possessions of central Europe that produced profits in excess of 50 percent per year.

■ Nunneries

________ were places of prayer and quiet contemplation, but women in religious orders, many of them of aristocratic background, often lived well and worked outside their establishments by running schools and hospitals.

Anglo Dutch trade wars

The ________ and the British- French rivalry over India and North America became part of a new pattern of worldwide warfare in the eighteenth century.

■ Foodstuffs

________ were most subject to price increases, especially evident in the price of wheat.

■ Colonies

________ were also deemed valuable as sources of raw materials and markets for finished goods.

Growth of Commercial Capitalism

The ________ ● The flourishing European trade of the sixteenth century revolved around three major areas: the Mediterranean in the south, the Low Countries and the Baltic region in the north, and central Europe, whose inland trade depended on the Rhine and Danube Rivers.

■ Mulattoes

________- the offspring of Africans and whites- joined mestizos and descendants of whites, Africans, and native Indians to produce a unique society in Latin America.

Mercantilism

________ ● In the seventeenth century, a set of economic tendencies that historians call mercantilism came to dominate economic practices.

slave trade

■ Politically and socially, the ________ encouraged the growth of territories in West Africa, such as Dahomey and Benin, where the leaders waged internal wars to secure more slaves to trade for guns and gunpowder.

■ Mulattoes-the offspring of Africans and whites

joined mestizos and descendants of whites, Africans, and native Indians to produce a unique society in Latin America

The Growth of Commercial Capitalism ● The flourishing European trade of the sixteenth century revolved around three major areas

the Mediterranean in the south, the Low Countries and the Baltic region in the north, and central Europe, whose inland trade depended on the Rhine and Danube Rivers

○ Therefore, states protected their economies by following certain practices

hoarding precious metals, implementing protectionist trade policies, promoting colonial development, increasing shipbuilding, supporting trading companies, and encouraging the manufacturing of products to be used in trade

Overseas Trade and Colonies

Movement Toward Globalization ● Mercantilist theory on the role of colonies was matched in practice by Europes overseas expansion

Catholic missionaries

spread Christianity to New World and China

Jesuits

most active and the most effective Catholic missionaries

Columbian Exchange

the reciprocal importation and exportation of plants and animals between Europe and the Americas

Gerardus Mercator

Flemish cartographer who made Mercator projection

price revolution

inflation became a major economic problem in the sixteenth and early seventeenth centuries

joint-stock company

individuals bought shares in a company and received dividends on their investment while a board of directors ran the company and made the important business decisions

Amsterdam Exchange

emerged as the hub of the European business world, just as Amsterdam itself had replaced Antwerp as the greatest commercial and banking center of Europe

mercantilism

mercantilist policies included hoarding precious metals, implementing protectionist trade policies, promoting colonial development, increasing shipbuilding, supporting trading companies, and encouraging the manufacturing of products to be used in trade

bullion

gold and silver