Do Now and Learning Goal Mr现在做和学习的目标先生. Casss Classes.pptVIP

Do Now and Learning Goal Do Now: List the number of things you own that may have come from somewhere other than the United States. Learning Goal: By the end of this section you will be able to explain how colonization created an economic system in which we live today. Chapter 20.4 The Columbian Exchange and Global Trade Setting the Stage Colonization results in: Voluntary and forced migration Establishment of powerful societies Exchange of new items New business and trade practices The Exchange The global transfer of goods during the colonization of America is known as the Columbian Exchange. Named after C.C. because if his initial contact with the Americas Corn and Potatoes considered the most important item shipped Inexpensive Nutritious Helped people live longer Boosted world population White Potato: Ireland Sweet Potato: China Livestock: horses, cattle, sheep, and pigs Global Trade New wealth + overseas trade = new business and trade practices Capitalism – economic system based on private ownership Governments were no longer sole owners of wealth Private ownership prompts investment in business Economic activity leads to large money supply Inflation occurs when supply is less than demand Steady rise in the price of goods Joint-Stock Companies Much like a corporation Shares of company are sold to public Joint-stock company responsible for Jamestown Mercantilism Economic policy bases on acquisition of wealth With wealth comes a powerful navy Increase power in two ways: Obtain gold and silver Establish a favorable trade balance: sell more then you buy Become self-sufficient not dependent on other countries Characteristics of Mercantilism Thriving agriculture should be carefully encouraged. Less of need to import foods. Prosperous farmers could provide a base for taxation. Sea power was necessary to control foreign markets. Less need to use the ships of other nations to carry your trade goods. Your own fleet adds to the power and prestige of the nation.