Exploration Vocabulary Part 2

to travel for the purpose of discovery

Settling a place for another country

• colonization

• industrialization

• imperialism

• profit motive

Middle passage

• A journey across the middle of a country

• A narrow strait connecting two larger bodies of water

• A voyage that brought enslaved Africans across the Atlantic Ocean to North America and the West Indies

• The colonization of Asia by European powers

Imperialism

• A form of government where power is concentrated in the hands of a single leader

• A policy or practice by which a country increases its power by gaining control over other areas of the world

• The establishment of economic partnerships between nations

• The economic theory of supply and demand

Industrialization is

• the formation of trade unions

• the concentration of economic power in the hands of a few industrialists

• the expansion of agrarianism

• the development of industries for the machine production of goods

_______ resources are materials such as minerals, forests, water that occur in nature and can be used for economic gain; raw materials

Human resources are

• people who work to produce good and services

• robotic technologies that created goods

• the physical assets owned by a company

• the use of minerals and raw materials

Sources of Wealth are

• the restriction of resources leading to economic decline

• monetary reserves held by the central bank

• the concentration of wealth in the hands of a few people

• how businesses or individual make money

Money made from a product or service

Profit motive is

• avoiding financial risks in business

• the force that encourages people and businesses to make more money

• what drives non-profit organizations

• focuses on minimizing expenses