| A | B |
|---|
| Infrastructure | Electricity, roads, plumbing, canals, and other man made items that support the growth of cities/populations |
| Canals | Man made waterways that connect major bodies of water |
| Currency | Another word for money |
| Trade | Exchanging one item for another; this may include exchanging a given item for money |
| Trade Routes | Pathways that are used to move goods, services, and ideas |
| Triangle Trade | The exchange of goods, resources, and slaves between Europe, the New World, and Africa; closely related to the Columbian Exchange |
| Silk Road | The network of roads that connected Asia and Europe |
| Globalization | The way businesses and countries seek to connect and engage on an international level |
| Specialization | When a person, company, nation, or region focuses on a single item and improves the quality and production of the item |
| Commerce | Another word for trade |
| Merchant | Someone who sells an item or items |
| Resource | Materials, money, or staff needed to produce a given item |
| Mutual Benefit | When all the trade partners are made better because of an exchange (trade) |
| Capitalism | When private business owners control the economy; related to a free market |
| Interdependence | When two or more nations rely on each other and cannot operate/fill needs and wants without the others |
| Silent Barter | The form of trade used in West African Kingdoms since traders spoke different languages; relied on hand gestures |
| Trans Saharan Trade Route | The routes that allowed traders to move between the West African Kingdoms and Northern Africa in spite of geographical challenges |
| Colombian Exchange | The exchange of resources, ideas, and disease between the “New World” and the “Old World” during the Age of Exploration; also known as/related to triangle trade |
| Cost-Benefit Analysis | When you consider what a good or service will cost you and compare it to the potential good of the choice |
| Command Economy | An economic system that has central (government) control over resources, production, and distribution |
| Free Market Economy | An economic system with no government interference |
| Mixed Economy | When a combination of private and public (government) controls exist within an economy; most common economic system in the world today |
| Incense Route | The Route across the Arabian Peninsula that brought Frankincense and Myrrh from the southern part of the peninsula to the Mediterranean side |
| Traditional Economy | An economic system where jobs are handed down from generation to generation |
| Spice Route | Sea routes that connected Europe to India and Asia |
| Barter | Exchanging one item for another; no money is involved |
| Shells and Beads | A form of currency used by many early people’s including some Native American tribes |
| Coins | Metals that are shaped and stamped then used as money; earliest use was in the Middle East |
| Paper Money | Bills that are printed with values to use in trade; the earliest form of this currency traces back to Ancient China |
| Bazaar | A marketplace; a place where many merchants set up stands and sell products |
