History

Monopoly

A market in which there are many buyers but only one seller.

De Las Casas, Bartolome

A Spanish soldier and priest who advocated for the protection of Native Americans and criticized Spanish activities in the New World.

Columbus

An Italian navigator who discovered the New World while searching for a route to China, serving Spain (1451-1506).

Caste System

A rigid social hierarchy that determined a person's occupation, economic potential, and societal position.

Fur trade

A trade involving European powers and Native Americans, capitalizing on the popularity of fur in Europe.

Dutch West India Co.

A trading company established by the Dutch government to manage trade in the Americas and Africa.

Joint-stock company

A business structure where shareholders invest money and share in the company's profits and debts.

Conquistador

A Spanish conqueror of the Americas.

Encomienda system

A system granting settlers the right to tax and use Native Americans for labor in exchange for protection and conversion to Christianity.

Enslavement

The condition of being owned and controlled by another person.

Alliances

Agreements between nations to support and protect each other.

Capitalism

An economic and political system where trade and industry are controlled by private owners for profit.

Mercantilism

An economic policy aimed at increasing national wealth through the accumulation of gold and silver and a favorable balance of trade.