Chapter 20 section 4 - The Columbian Exchange and Global Trade

joint stock company

A company made up of a group of shareholders. Each shareholder contributes some money to the company and receives some share of the company's profits and debts.

Capitalism

An economic system based on private ownership of capital

What food and livestock from the rest of the world traveled to the Americas?

Europeans introduced various livestock animals into the Americas. These included horses, cattle, sheep, and pigs. Foods from Africa (including some that originated in Asia) migrated west in European ships. They included bananas, Europeans introduced various livestock animals into the Americas. These included horses, cattle, sheep, and pigs. Foods from Africa (including some that originated in Asia) migrated west in European ships. They included bananas, black-eyed peas, and yams. Grains introduced to the Americas included wheat,rice, barley, and oats. black-eyed peas, and yams. Grains introduced to the Americas included wheat, rice, barley, and oats.

Columbian Exchange

The exchange of plants, animals, diseases, and technologies between the Americas and the rest of the world following Columbus's voyages.

What were some of the food items that traveled from the Americas to the rest of the world?

They included such plants as tomatoes, squash, pineapples, tobacco, and cacao beans (for chocolate). And they included animals such as the turkey, which became a source of food in the Eastern Hemisphere. Perhaps the most important items to travel from the Americas to the rest of the world were corn and potatoes.

What were some of the effects on European society of the economic revolution that took place in the 16th and 17th centuries?

Towns and cities grew in size but people remained in rural areas, merchants enjoyed social mobility most of Europe was poor

favorable balance of trade

an economic situation in which a country sells more goods abroad than it buys from abroad

mercantilism

an economic system (Europe in 18th C) to increase a nation's wealth by government regulation of all of the nation's commercial interests

capital

wealth in the form of money or other assets