Overview of New Economic Systems

Front

What were the radical innovations in our economic history that led to the emergence of capitalism in Europe?

Back

Credit cards, interest, and banking

Front

Why was lending money considered immoral in Shakespeare's time?

Back

It increased discrimination against non-Christian groups

Front

Who introduced Europe to fractions, decimals, and the Hindu-Arabic numeral system?

Back

Fibonacci

Front

What financial technology helped people give money to each other without exchanging cash?

Back

Bills of exchange

Front

What did banks start to manage on a larger scale, including dealing with government debt?

Back

Money and loans

Front

What were joint-stock companies used for?

Back

Building overseas empires

Front

What economic philosophy did European countries promote?

Back

Mercantilism

Front

What was the goal of mercantilism?

Back

To sell more than you buy

Front

What did the rise of the middle class contribute to? Options: The rise of joint-stock companies, The emergence of capitalism in Europe, Colonial administration in India, Business booming for Europeans

Back

Business booming for Europeans

Front

What were valuable commodities as raw materials under European imperialism?

Back

Spices and other goods