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. Capitalism is the system in which it is based on how much you profit.

1.2. -More exploration led to more trade which means more money.

2. How did the market economy grow?

2.1. -When people started to have more money, people could now sell and buy things.

2.2. -When people want a product and there is not much of it then the prices go up.

3. What is a cottage industry?

3.1. A cottage is a home.

3.2. A cottage industry is when you make products at home.

4. What is mercantilism?

4.1. Countries thought that to gain power, you have to save money.

4.2. To have more money, they sold stuff instead of buying things.

4.3. They also started to establish their companies in other colonies to get more money.