The Rise of Global Markets - AP European History
- Identify the 17th-century conflict that was partly driven by trade rivalries.
- Anglo-Dutch Wars. Commercial competition between major maritime powers.
- Which company was granted a monopoly over British trade with the East Indies?
- British East India Company. Exclusive trading rights in Asian markets.
- What was the primary agricultural product exported from the Caribbean colonies?
- Sugar. Plantation crop driving Caribbean colonial economy.
- Identify the period characterized by the significant expansion of European overseas trade networks.
- Age of Exploration. Era of European maritime exploration and colonization.
- Identify the 18th-century economic system that emphasized minimal government intervention.
- Laissez-faire capitalism. Free market philosophy opposing government trade controls.
- What was the primary cause of inflation in Spain during the 16th century?
- Influx of New World silver. Massive silver imports caused price revolution.
- Which continent was primarily involved in the transatlantic slave trade?
- Africa. Source of enslaved labor for Atlantic plantations.
- Name the economic theory that emphasizes the importance of a favorable balance of trade.
- Mercantilism. Promoted export surplus to accumulate national wealth.
- What was a significant consequence of the Columbian Exchange?
- Introduction of new crops to Europe. Transformed European agriculture and diet patterns.
- What commodity drove the Atlantic slave trade in the early modern period?
- Sugar. High-value crop requiring intensive plantation labor.
- Name the policy that aimed to limit foreign imports through high tariffs.
- Protectionism. Protected domestic industries from foreign competition.
- Identify the type of ship that was crucial for long voyages in the Age of Exploration.
- Caravel. Light, fast vessel ideal for oceanic exploration.
- Which European country was the first to reach India by sea?
- Portugal. Vasco da Gama's route around Africa in 1498.
- Which nation established the first stock exchange, the Amsterdam Stock Exchange?
- Netherlands. Pioneered modern securities trading systems.
- Which city became the financial center of Europe in the 17th century?
- Amsterdam. Major hub for international banking and commerce.
- Identify the economic practice of establishing colonies to provide raw materials to the mother country.
- Colonialism. System extracting raw materials for metropolitan benefit.
- What was the role of joint-stock companies in the rise of global markets?
- Facilitated investment in overseas ventures. Shared risk enabled large-scale commercial ventures.
- What was a key feature of mercantilist economic policy?
- Accumulation of gold and silver. Bullion accumulation as measure of national wealth.
- Name the economic policy that promotes exporting more than importing.
- Mercantilism. Trade surplus theory for national economic strength.
- What was the primary driving force behind European exploration in the 15th century?
- Desire for new trade routes to Asia. Sought to bypass Ottoman control of Asian trade.
- Which French port city became an important hub for transatlantic trade?
- Bordeaux. Major Atlantic port for colonial trade operations.
- Which Asian country was known for its silk trade during the global market rise?
- China. Major producer of luxury textiles for global trade.
- Name the treaty that ended the War of Spanish Succession in 1713.
- Treaty of Utrecht. Reshaped European balance of power and trade.
- Which innovation significantly improved navigation during the Age of Exploration?
- Astrolabe. Enabled accurate celestial navigation for ocean voyages.
- Identify the crop that led to the economic prosperity of the Virginia Colony.
- Tobacco. High-value export crop driving colonial economy.
- Name the treaty that granted the British control over Canada following the Seven Years' War.
- Treaty of Paris (1763). Ended French colonial dominance in North America.
- Which European country established the first trading post in India?
- Portugal. First European nation to establish direct Asian trade routes.
- What was the primary purpose of the Navigation Acts enacted by England?
- Regulate colonial trade to benefit England. Ensured colonial trade flowed through England first.
- What was the primary economic activity of the British East India Company?
- Trade of spices, textiles, and other goods. Primary function focused on profitable Asian commerce.
- What was the main economic activity in the French colonies in North America?
- Fur trading. Beaver pelts were highly valued in European markets.
- Which economic philosophy was challenged by Adam Smith's 'The Wealth of Nations'?
- Mercantilism. Smith advocated free trade over state intervention.
- What economic factor drove the Spanish conquest of the Americas?
- Search for gold and silver. Quest for precious metals motivated colonial expansion.
- Which technological advancement allowed for improved maritime navigation in the 15th century?
- Magnetic compass. Essential tool for determining direction at sea.
- What was the primary goal of the Dutch East India Company (VOC)?
- Monopolize spice trade in Asia. Sought to control profitable Asian spice markets.
- Identify the treaty that ended the Thirty Years' War in 1648.
- Treaty of Westphalia. Established principle of state sovereignty in Europe.
- Identify the empire that dominated the spice trade in Southeast Asia during the 16th century.
- Portuguese Empire. First to establish Asian trading posts and routes.
- Which precious metal was a major export from Spanish colonies in the Americas?
- Silver. Massive influx disrupted European monetary systems.