Honors History 2 Flashcards

Terms Definitions
Encomienda System
A labor system employed by Spain during the colonization of Americans.
Grant by a countries legislative power, by which an institution is created and its privileges defined.
Belief in the benefits of trading.
A political system in which a countries trade.
A person who operates businesses and taking financial risk while doing so.
Joint Stock Company
A company whose stock is owned by shareholders.
Market Economics
An economic based on the power of division of labor in which the prices of goods are determined in a free price system.
European immigrants who gained passage to America.
Middle Passage
The sea journey undertaken by slave ships from west Africa to the west indies.
Indentured Survant
A labored worker under contract to an employer in exchange for food, shelter, clothes, etc.
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