The Impact of Exploration on European Economies

Get Started. It's Free
or sign up with your email address
Rocket clouds
The Impact of Exploration on European Economies by Mind Map: The Impact of Exploration on European Economies

1. How did exploration help capitalism?

1.1. Capitalism is when you invest on something and you get a profit.

1.2. More exploration led to more trade, which gave people to invest in companies.

2. How does a market economy grow?

2.1. When people began to get more money,

2.2. When the product is in the really wanted zone, it might be very expensive.

2.3. The market economy happens when the things or items are chosen by supply and demand.

3. What is the cottage industry?

3.1. People were called in to work. They had to turn raw materials into another product.

3.2. Many products were created this way. This was called the cottage industry.

4. What is mercantilism?

4.1. The best way to gain power, thought the countries, was to save money.

4.2. To start saving money, they had to improve on the exports and had to decrease on the imports.

4.3. To help them out, the built more colonies in other part to gain more money.