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 did exploration help capitalism?

1.1. More Exploration the more the $money$ to invest companies.

1.2. Capitalism an economic for money for profit.

2. How does a market economy grow?

2.1. Once people started to have more money, they could now buy and sell more things.

2.2. If a product was in high demand and there wasn't much of a supply of that product, it could cost a lot.

2.3. A market economy is or happens when prices are determined by stuff and order.

3. What is the cottage indistry?

3.1. Lots and lots were created by the cottage industry.

3.2. Merchants needed to hire people to make products.

4. What is mercantilism

4.1. Countries thought the best way to build power was to save money.

4.2. To do this, they increased sale prices.