WHP 3.3 Overview of New Economic Systems

What was considered immoral in the society of Shakespeare's England?

• Farming

• Trading spices

• Writing plays

• Lending money

Who wrote the book 'Liber Abaci' that introduced Europe to modern numerical systems?

• Galileo Galilei

• Leonardo of Pisa (Fibonacci)

• Leonardo da Vinci

• Isaac Newton

What financial instrument helped people transfer money without using cash?

• Bank note

• Stock certificate

• Bill of exchange

• Credit card

Which cities were part of the vast trade networks and saw the emergence of the first modern banks?

• Berlin and Vienna

• Madrid and Lisbon

• Florence and Venice

• London and Paris

What was the primary purpose of joint-stock companies during the Age of Exploration?

• To promote free trade

• To minimize individual investment risks

• To fund arts and culture

• To establish universities

Which company performed colonial administration in India on behalf of the British?

• The Portuguese Spice Company

• The British East India Company

• The Dutch East India Company

• The French West India Company

What economic philosophy did European countries use to expand political power and prohibit free trade?

• Capitalism

• Socialism

• Feudalism

• Mercantilism

What was a major effect of the financial innovations and economic changes in Era 5?

• The decline of the middle class

• Decreased trade efficiency

• The rise of joint-stock companies and colonial systems

• The end of the banking system

What system emerged where a country's economy is controlled by private companies?

• Capitalism

• Socialism

• Feudalism

• Mercantilism

What did the Bank of England sell to finance a war with France?

• Bonds

• Gold

• Stocks

• Land