The Columbian Exchange and Mercantilism

What was the primary focus of the Columbian Exchange?

• Transfer of technology

• Movement of people only

• Transfer of foods, plants, and animals

• Exchange of currency

How is capitalism defined in the context of the text?

• An economic system based on government ownership

• A system focused on equal distribution of wealth

• Private ownership and the right to earn a profit

• A barter-based economic system

According to mercantilism, what determined a country's power?

• Cultural influence

• Military strength

• Population size

• Wealth, especially gold and silver

What role did colonies play in the mercantilist system?

• They contributed to cultural diversity.

• They provided military support.

• They supplied goods for profitable trade.

• They were centers of political power.

Which of the following foods moved from the Americas to Europe, Africa, and Asia in the Columbian Exchange?

• Bananas, black-eyed peas, and yams

• Corn and potatoes

• Cattle, pigs, and horses

• Rice and tea

What impact did the settling of the Americas and the growth of trade have on business practices?

• It led to the decline of capitalism.

• It resulted in the end of trade.

• It initiated an economic revolution with new practices like capitalism.

• It promoted socialist economic models.

What is a joint-stock company, as mentioned in the text?

• A business owned by a single individual

• A company with a monopoly on trade

• A business where investors pool their money to start and share profits

• A government-controlled enterprise

Which deadly impact did the Columbian Exchange have on the Americas?

• Economic recession

• Population decline due to deadly illnesses

• Increase in agricultural productivity

• Technological advancement

According to mercantilism, what contributes to a favorable balance of trade for a country?

• Exporting more goods than it buys

• Importing more goods than it sells

• Accumulating cultural artifacts

• Investing in military strength

How did the American colonies change European society during the Commercial Revolution?

• By promoting equality and reducing wealth disparity

• By leading to the decline of towns and cities

• By making most people wealthy and powerful

• By contributing to the growth of merchants, towns, and cities