THE AGE OF EXPLORATION CHAPTER 26
SECTION 3: THE GROWTH OF TRADE
1. By the 1500s the Atlantic Ocean became a busy sea . Ships carried
and . The Hemisphere includes the continents
east of the Atlantic Ocean. The Hemisphere includes the Americas. ,
, , , and were exchanged between them.
This exchange between the hemispheres is called the .
2. More than million people came from Europe to the Americas. Probably the most
important crop brought from the Americas to Europe was maize or . Other crops
brought over included , , , , and .
3. In turn, crops brought from Europe to the Americas included , ,
, , , , , and .
On Columbus’ second voyage be brought , , , , and
. The became a central part of the Native American culture. They
began to use and European in warfare and hunting. Some exchanges
happened by . European had a deadly effect on the Native Americans.
4. A new economic system developed called . This system emphasized
strengthening a nation by expanding . It taught that the main goal of trade was
to make a nation more . Nations developed policies to trade and
boost . “We must ever observe this rule: to sell more…yearly than we
… in .” Describe four economic effects of the tea trade:
1. 2.
3. 4.
5. Nations foreign goods to keep them out and to increase the market for
goods. Nations founded to supply them with
that the mother country turned into to sell. Colonies
could not with other countries and bought goods from the country.
6. Capitalism grew out of this. It believes businesses should be owned and
operated for a . It is also called the or
system. Here compete to supply goods.
The relationship between and determines the price. In the 1500s,
prices for goods went up while the amount of money in circulation . This led to
. This period of runaway inflation was called the .
7. Explain in detail the two causes of the Price revolution:
A.

B.

With high prices meant greater . This extra money or was reinvested.
8. Explain how the cottage industry worked in England with the production of cloth:



9. Define traditional economy:
Define market economy:
10. In cities and thrived and formed a
class. At the same time, laborers and lived on the edge of
in conditions.