The Impact of Exploration on European Economies

1. How does a market economy grow?

1.1. money= people could buy and sell more things

1.2. If a supply or product was wanted and there was very little of it then it would be expensive.

1.3. A market economy is when supplies and want determine how much things cost.

2. What is mercantilism?

2.1. powerful= save money

2.2. To do this, they decreased what they bought and increased what hey sold.

2.3. more money+establishing colonies

3. How did exploration help capitalism?

3.1. Capitalism is an economic system where people see if they make profit on how much they invest.

3.2. exploration+trade=money to invest in companies.

4. What is the cottage industry?

4.1. Merchants hired people to take new materials and turn them into a useful item and they worked in cottages, or homes.

4.2. Many useful things were created this way, cottage industry.