The Impact of Exploration on European Economies

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The Impact of Exploration on European Economies by Mind Map: The Impact of Exploration on European Economies

1. How does a Market Economy grow?

1.1. A Market Economy is when prices are made by demand and supply.

1.2. A Market Economy grows when the demand of an item is high and the supply was scarce.

1.3. When people started to have more money they were now able to buy and sell more items.

2. How did exploration help capitalism?

2.1. Exploration helped because it meant more trade and if there were more trade you'd get more money to invest with.

3. What is the cottage industry?

3.1. The cottage industry was when merchants had hired people to make products out of raw materials.

4. What's Mercantilism?

4.1. Mercantilism was the economy that's when people had though that the best way to earn money was to save

4.2. The way they have done this is that they had increased what they had sold and decrease what they are buying.

4.3. They had even made colonies in other places in order to get more money