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. system based on investment of money and profit

1.2. when they explored that meant more trading.and gave more people to in vest.

2. How does a market economy grow?

2.1. when people stated to buy things then they could go and get other things.

2.2. when the people want to buy things and there is only one person selling them the people that sells them he might butt the price up.

2.3. A market economy happens when prices are determined by supply and demand.

3. What is the cottage industry?

3.1. Lots and lots of products were created this way. This was called the cottage industry.

3.2. Merchants needed to hire people to turn raw materials into products.

4. What is mercantilism?

4.1. people saved money to built power

4.1.1. they increse wat they sold and decrees what they bought.

4.1.1.1. they colonies in other places to get even more money