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. 1. How did exploration help out capitalism?

1.1. Capitalism is a economic system. Its based on peoples investment of money and profits.

1.1.1. New node

1.2. Exploration lead to trading, that lead to more money to invest in companies.

2. 2. How does a market economy grow?

2.1. People needed money so they could buy and sell products to others.

2.2. If an item was wanted alot and there was not enough of the product, it would be very expensive

2.3. A market economy occurs when prices are determined because of supply and demand.

3. 4. What is mercantilism?

3.1. Countries thought the best way to save money.

3.2. They also increased export and decreased imports.

3.3. They also made colonies in other places to get more and to get money to support the government.

4. 3. What is the cottage indestry?

4.1. Merchants needed people to hire and sell or make products. People were hired to work in cottages, or pepole's home.

4.2. Lots of items were made this way and sold this way.