European Exploration

European Exploration - 1400 to 1750, which improved ways of...

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European Exploration European Exploration- By the 1400s technology, economics, politics, and society as a whole changed significantly. These changes sparked European interest in the world beyond Europe and provided the opportunity to explore them. This era lasted for the next 400 years. Technology Advances- Europeans had to compete with Arabs for trade. Europeans began to focus on finding new sea routes to the East. To do this successfully Europeans needed better maps, navigation instruments, ships and guns. Mapmaking- Compass- Instrument used for navigational purposes, which includes a magnetized piece of metal that points to the north. Astrolabe- An instrument used to calculate latitude Galleys- Long ships used for European trade Commercial Revolution- Changes and developments in the European economy from
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Unformatted text preview: 1400 to 1750, which improved ways of doing business. Standardized Money- During the 1400s, Europeans developed a standard money system. The standardization of money made economic transactions much more reliable. This intern encouraged the growth of international trade and banking. Joint-Stock Companies- Business organization that raised money by selling investors stock, or shares, in the company. Mercantilism- Economic theory stating that there is a fixed amount of wealth in the world and that in order to receive a larger share, one country has to take some wealth away from another country. Favorable Balance and Trade- Situation that exists when a country sells more goods than it buys from a foreign country. Tariffs- Import taxes on foreign goods. Subsidies- Government grants of money....
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