My New Mind Map

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My New Mind Map by Mind Map: My New Mind Map

1. How does a market economy grow?

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

1.2. A market economy happens when prices are determined by supply and damand

1.3. If a product was high in demand and there wasnt much supply of hat product it would be expensive.

2. How did exploration help capitalisum?

2.1. Capitalisum is an economic system based on investment of money for prophet

2.2. More exploration led to more trade which gave people money to start companies.

3. What is the cottage industry?

3.1. Merchants needed to hire people to turn raw materials into products .Many people were hired in cottages or homes

3.2. Lots of products were arced this way and called the cottage industry

4. What is mercantilisum?

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

4.2. To do this they increased exports and decreased them