SS 2201: SCO 10 Economics Early Modern Era

What term describes persons who did not travel an entire trade route. They bought from one region & sold to another.

What event 10,000 years ago resulted in the creation of surplus goods and a move away from a nomadic lifestyle?

What economic innovation involved contracts which outline payment terms in exchange for goods or services?

What term describes goods that are traded for? They are brought in because they are in short supply.

What term describes the production and consumption of goods to meet people’s wants and needs?

Innovations and inventions in what field made trade possible in the Neolithic Age?

What term describes goods that are traded away? They are exchanged in return for something needed.

What is considered the driving force behind economic ideas? Many innovations have been created because of it.

What items in the Ancient Era included spices, textiles & precious metals? They are valuable & not necessary for life

What was a consequence of long distance trade?

What basic component of economics began during the Neolithic Age? It means to exchange goods and/or currency.

What name was given to the economic system in which larger countries built wealth via trade & exploitation of colonies?

What term describes the type of trade involving one good being exchanged for another? No money is ever exchanged.

What means to have more than enough to meet your needs? It was a consequence of farming and the Neolithic Age.

What was a consequence of the widespread transfer of plants, animals, human populations, culture, technology & disease?

What innovation of the Commercial Revolution involved the creation of these institutions which help to conduct business?

What process involved the widespread transfer of plants, animals, human populations, culture, technology and diseases?

What title is given to an individual who establishes a business?

What innovation involves a bank guaranteeing payment to make it easier for partners to trade?

What was a consequence of the widespread transfer of plants, animals, human populations, culture, technology & disease?

What name was given to the formal document issued by the monarch setting out business terms?

What innovation of the Early Modern Era involved different people buying shares in a company?

What cause involved the creation of associations of trades people who oversee their craft?

What was the economic event of the Early Modern era which involved the development of massive, large-scale trade?

What was the focus of Paleolithic innovations?

What was the economic arrangement of the Early Pre Modern Era? Lords granted land in exchange for what was produced.

What name is given to the development of multilateral trade involving more than two partners?

Why was there little trade during the Early Pre Modern Era?

What analytical tool compares the value goods being imported in versus the value of goods exported?

Which one is NOT a consequence of mercantilism?

What two factors caused the development of trade in the Neolothic Age?

What contributed to the development of trade in the Early Pre Modern Era?