social vocabulary terms

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  • Mercantilism is the act of strictly controlling trade to benefit an economy of imperial power. This creates many jobs to run smoothly, which lowers the unemployment rates
  • Mercantilism may be good for the economy who controls it, but other places are put in risk of running out of resources.
  • Imperialism is when one country dominates over another country's economic, political and cultural institutions. This can help with global technological advancement.
  • Imperialism can also lead to political feuds and discrimination
  • Capitalism is when, an economic system advocates free trade, competition, and choice as a means of achieving prosperity. Capitalism helps with economic growth.
  • Capitalism can cause one economic system to monopolize all the others, giving it more power.
  • Grand exchange is when one country brings goods to another country where they are cultivated and become staples. This is good because it makes plenty of goods available almost all the time,
  • Goods and resources can get very expensive in the grand exchange, and there is usually manipulation between countries.
  • Historical globalization was a time beginning in 1492, and ending after world war 2. This is when Christopher Columbus discovered the Americas.
  • Christopher Columbus wasn't a very good person, he lied, stole, and murdered.
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