AoE Key Concepts Recap

The policy or practice of acquiring, occupying, and governing territories outside of one's own country, especially for the purposes of economic gain, resource extraction, and settlement. It is predicated on violence. It started in the 15th century and could be undertaken by states and by private enterprises, such as the East India Company founded in 1600. The focus is primarily on accruing profits from unequal transactions to the benefit of the core. It is fundamentally linked to ideologies of white racial superiority.

A political construct in which a group of territories or states are ruled by a single supreme authority. They are often characterized by a central government that wields an absolute power and control over the constituent territories. This construct emerged out of south-west Asia 4,000 years ago.

The intersection of capitalism and racial oppression. Racism and racial inequality are not just by-products of capitalism, but rather that they are integral to the functioning and maintenance of capitalist systems.

When a state or society establishes itself in a territory that is already inhabited, and then attempts to displace or eliminate the indigenous population to establish control over the land and its resources.

The economic system that was dominant in Europe from the 16th to the 18th centuries. It is based on the belief that a country's wealth and power are primarily determined by its stock of gold and silver, and that the primary goal of economic policy should be to accumulate as much gold and silver as possible.

• Free trade

• Mercantilism

• Joint-stock company

• Tariff

• Bullion

A type of business structure in which the company's capital is divided into shares owned by shareholders. Shareholders are the owners of the company and have the right to vote on important company decisions, such as the election of the board of directors and the approval of major financial transactions. The shareholders are also entitled to a portion of the company's profits, as dividends, in proportion to the number of shares they hold.

• Free trade

• Mercantilism

• Joint-stock company

• Tariff

• Bullion

A tax imposed by a government on goods imported or exported from a country, usually with the aim of protecting domestic industries or generating revenue.

• Free trade

• Mercantilism

• Joint-stock company

• Tariff

• Bullion

The economic system that promotes the exchange of goods and services between countries without the use of tariffs, quotas, or other trade barriers.

• Free trade

• Mercantilism

• Joint-stock company

• Tariff

• Bullion

Match the following terms to their definitions:

• monopsony

• A market structure in which a single seller controls the entire supply of a good or service, giving them significant power to set prices and influence market conditions.

• bullion

• A market structure in which there is only one buyer for a particular product or service, giving that buyer significant power to control prices and terms of trade.

• monopoly

• Precious metals, such as gold or silver, that are traded and stored primarily for their intrinsic value rather than for their industrial or numismatic purposes.

Match the following terms to their definitions:

• metropole

• The dominant city or region within a colonial or imperial system

• hegemony

• The outer regions or territories that are less central and influential within a colonial or imperial system.

• orientalism

• The dominance or control that one state or group exercises over others, especially through its economic, political, or cultural influence.

• periphery

• The prejudice with which the Western world has historically viewed and studied the cultures and peoples of the East, especially those of the Middle East and Asia.