AP Euro Unit VII: The Global Economy of the Eighteenth Century

1. What may be considered the most significant economic developments of the eighteenth century? What relationship do they bear to earlier economic developments?

• Agriculture biggest industry (like before

• merchant capitalism

• domestic system still very popular especially in weaving and metal manufacturing industries

• foreign trade + internal trade = good economy

2. Describe the role played by the British, the French, and Dutch in the commerce of the eighteenth century.

• trading companies —> more money

• banking in Amsterdam and England

• competition for global markets

3. What important advantages did Britain and France enjoy over other countries?

• they had governments that could properly protect and advance merchant interest and mercantilism 

• also had a high level of at home production of goods

4. What role did Asia play:

   1. as a market for European manufacturers

• market for exotic goods

• inspired manufacturers to make their own versions of the goods like European porcelain/china, cotton fabric, etc

2. as a source of goods for Europeans

• spices like pepper and ginger, cinnamon and cloves 

• gold and silver

5. Explain the development in America of the “plantation” economy, as illustrated on pg. 289.

• sugar cane imported into England from America

• developed tools/machines to assist them 

What role was played by the West Indies in the sugar trade?

Of what importance was slave labor to the American plantation system? To the British economic system?

• AA slaves b/c NA slaves dying from disease

• was pretty important because they did all the work which funded the British economy 

• caused the rapid increase in British trade and the rise of British capitalism 

6. Describe the role played by each of the following in the world economy in the 18th century:

   1. western Europe

• colonies in America boosted trade

• gained most of profit 

2. Africa

• provided slaves for western countries

• did most of the labor

7. How did eighteenth-century economic developments affect the various social and economic classes of Europe? What was the political significance of the new wealth?

• private property and private capitalism within upper classes

• merchants prospered

• wealth provided political stability among the nation