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. with more exploration led to more trade and then that led to gaining more money

1.2. mistake

2. how does a market economy grow

2.1. when a person becomes more wealthy they buy and sell more things,

2.2. when not that many people have an item that item becomes more expensive.

2.3. market economy is when the price changes depending on how many people want the item.

3. what is the cottage industry

3.1. people need other people to turn raw materials into products.

3.2. lots of products were created that way.

4. what is a merchant

4.1. to build power was to save money

4.2. they mad less of things so prices could go up

4.3. they established more colonies