The Impact of Exploration on Europe Economics

1. How did Exploration help Capitalism?

1.1. Capitalism is an economic system based on investment of a profit.

1.2. Exploration gave people money for they can invest in companies.

2. How does a market economic grow?

2.1. Lets say if a product was popular then they would lower the cost of that product if not then it would be more expensive.

2.2. A Market Economic happens when prices are determined by supply and demand.

3. What is the Cottage Industry?

3.1. Merchants hired people to make items out of raw materials.

3.2. Many items were made in the Cottage Industry.

4. What is Mercantism?

4.1. The best way was to save money.

4.2. They increased exports and decrease imports

4.3. They got more money because they established colonies.