A | B |
inflation | an economic cycle involving a rise in prices linked to a sharp increase in the amount of money available |
capitalism | the investment of money to make profit |
entrepreneur | enterprising merchants |
joint stock company | like a partnership it allowed people to pool large amounts of capital needed for overseas ventures |
mercantilism | economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism |
tariff | tax on imported goods |
Columbian Exchange | goods from Americas and Europe that changed hands over time |
commercial revolution | spurred trade |
putting out system | system by which the guilds were bypassed and labor was separated from capital |