Your SlideShare is downloading. ×
Chapter 3 section 5 notes
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Chapter 3 section 5 notes

180
views

Published on


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
180
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Chapter 3 Section 5 NotesChapter 3 Section 5 Notes Changes in EuropeChanges in Europe
  • 2. Global Exchange or the ColumbianGlobal Exchange or the Columbian ExchangeExchange  Started when Columbus brought European goodsStarted when Columbus brought European goods with him to America and goods back to Europewith him to America and goods back to Europe  Included people, plants, animals, technology andIncluded people, plants, animals, technology and diseasedisease  From America- tomatoes, pumpkin, peppers, corn,From America- tomatoes, pumpkin, peppers, corn, potatopotato  From Europe- wheat, grapes, bananas, sugar,From Europe- wheat, grapes, bananas, sugar, cattle, pigs, goats, chickens, and horsescattle, pigs, goats, chickens, and horses
  • 3. A Commercial RevolutionA Commercial Revolution  The Price RevolutionThe Price Revolution  Inflation- a rise in pricesInflation- a rise in prices linked to a sharplinked to a sharp increase in the amountincrease in the amount of money available.of money available.  Caused by an increaseCaused by an increase in demand for goods andin demand for goods and increased money inincreased money in circulationcirculation
  • 4. A Commercial RevolutionA Commercial Revolution  Growth of CapitalismGrowth of Capitalism  capitalism- type of economic systemcapitalism- type of economic system in which the means of production arein which the means of production are privately owned for profitprivately owned for profit
  • 5. A Commercial RevolutionA Commercial Revolution  New Business methodsNew Business methods  bookkeeping to keep track of profits andbookkeeping to keep track of profits and losseslosses  banks- wealthy merchants could lendbanks- wealthy merchants could lend money with interestmoney with interest  joint stock company- private tradingjoint stock company- private trading company in which shares are sold tocompany in which shares are sold to investors to finance business venturesinvestors to finance business ventures
  • 6. MercantilismMercantilism  Mercantilism-Mercantilism- nations export morenations export more goods than itgoods than it importsimports  Role of Colonies-Role of Colonies- colonies existed forcolonies existed for the benefit of thethe benefit of the parent country, thus,parent country, thus, trade was strictlytrade was strictly controlledcontrolled
  • 7. Lives of Ordinary PeopleLives of Ordinary People  merchants did well, but this hurt nobles whosemerchants did well, but this hurt nobles whose wealth was tied up in the landwealth was tied up in the land  wages of hired workers did not keep up withwages of hired workers did not keep up with inflation, creating poverty and discontentinflation, creating poverty and discontent  Middle class families tended to do wellMiddle class families tended to do well

×