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. It is an economic system based on investment of money for profit.

1.2. This ment more explorations which led to more trade which also ment more money to invest in companies

2. How does a market economy grow

2.1. Now that people had more money they could buy and sell more things.

2.2. If there was a product in high demand and there was a little of it, it was worth a lot of money.

2.3. A market ecomony works by a demand.

3. What is the cottage industry

3.1. Merchants needed to hire people to do all the work at home

3.2. There was alot of stuff made this way it was called cottage industry

4. What is mercantilism

4.1. People thought that the best way to built power was to save money.

4.2. To do all of this they increased exports and decreased imports.

4.3. They will also create colonies in other places to get more money