The Impact of European Exploration

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The Impact of European Exploration by Mind Map: The Impact of European Exploration

1. What is a cottage industry?

1.1. Many products were created by cottage industry.

1.2. many people were hired to turn raw materials to products sometimes they would work at there home's.

2. How did Exploration help Capitalism?

2.1. Capitalism is an econmic system based on investment of money.

2.2. More exploration led to more trade, wich gave people money to invest in compineas.

3. How does a market economy grow?

3.1. Once people start to get more money they could sell and buy things.

3.2. If there wasn't that much of a supply it would be expensive.

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

4. What is mercantilism?

4.1. Countries thought the best way to gain power was by saving money.

4.2. This way they increased what they sold and decreased what they bought.

4.3. They also established colonies to gain even more money.