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 does a market economy grow?

1.1. Once people started to have more money, they could have buy and sell more things

1.2. If products was in a high demand and there wasn't any supply the prices will go up

1.3. A market economy happen when prices change

2. How did exploration help capitalism?

2.1. Capitalism is economic system based on investment of money

2.2. More exploration led to more trade

3. What is the cottage industry?

3.1. Merchants needed to hire people to turn raw material into a real product

3.2. Cottage=house

4. What is mercantilism

4.1. Countries thought the the best way to build power was to save money

4.2. They would increase exports and decrease imports

4.3. They also had colonies in other places to get even more money