| A | B |
|---|
| export | to send goods out of your country |
| import | to bring goods into your country |
| tariff | tax on goods brought into a country |
| Columbian Exchange | movement of goods, people, ideas, & diseases across Atlantic |
| mercantilism | a nation could become powerful by building up supply of gold & silver through trade |
| commerce | buying & selling of large quantities of goods over long distances |
| capitalism (free enterprise) | people, rather than gov'ts, own propery & make goods; little gov't involvement |
| mainland states | part of a continent rather than a peninsula or islands |
| balance of trade | difference between what a nation imports & exports |
| capital | money to invest in business |
| joint-stock company | individual entrepreneurs could buy stock, or shares, in a company;merchants could share in profits & risks of trade |
| isolationism | policy of turning inward from the world |
| entrepreneurs | people who risk money by investing in business in hopes of earning a profit |
| social class | group of people who share a similar position in society |
| middle class | group made up of merchants & artisans |
