World History: 16. Global Convergence, Lessons 4–7

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Full list of words from this list:

words only definitions & notes
  1. demarcation
    the boundary of a specific area
    The pope set a Line of Demarcation, dividing the non-European world into two zones.
  2. privateer
    one who works on a ship commissioned to prey on other ships
    Some pirates, called privateers, even operated with the approval of European governments.
  3. ruthless
    without mercy or pity
    On the way to India, da Gama proved that he was ruthless and cunning.
  4. lucrative
    producing a sizeable profit
    Da Gama's voyage to India brought Portugal into the lucrative spice trade.
  5. mercantilism
    a system of increasing wealth through colonization and trade
    Mercantilism is an economic policy that promotes strengthening a nation by expanding its trade.
  6. capitalism
    an economic system based on private ownership of assets
    Capitalism is an economic system in which business is privately owned and operated for profit.
  7. inflation
    a general and progressive increase in prices
    A rise in prices and an increase in available cash leads to a situation called inflation.
  8. cottage industry
    a small-scale business that can be run at home
    The people who wove this cloth worked in their own homes, called cottages, in a system known as cottage industry.
  9. traditional
    consisting of or derived from a practice of long standing
    A traditional economy is an economy in which the exchange of goods is based on custom or tradition.
  10. market economy
    an economy that relies on market forces to determine prices
    By contrast, a market economy is one in which prices and distribution of goods are based on competition in a market.
  11. staple
    necessary or important, regarding food or commodities
    Peanuts became a staple crop in Africa, adding protein to soups or being pressed to make cooking oil.
  12. enormous
    extraordinarily large in size or extent or degree
    The second cause was the enormous flow of gold and silver from the Americas to Europe.
  13. incentive
    a positive motivational influence
    A market economy requires private property ownership, a free market, and profit-making incentives.
  14. indenture
    bind by a contract for work, as an apprentice or servant
    Of these, many were indentured servants, poor immigrants who paid for passage to the colonies by agreeing to work for four to seven years.
  15. stagnant
    not growing or changing; without force or vitality
    In England, the stagnant economy and religious intolerance pushed groups like the Puritans to leave home.
  16. dissent
    express opposition through action or words
    Some proprietors were also religious dissenters.
  17. mutiny
    open rebellion against constituted authority
    Chaining the men together also prevented mutinies, or revolts.
  18. perilous
    fraught with danger
    The journey was long and perilous. Ships faced threats from storms, pirate raids, or mutinies.
  19. chattel
    personal property, as opposed to real estate
    Whatever their position, slaves were considered chattel, or property, and subject to the arbitrary whims of their owners.
  20. arbitrary
    based on or subject to individual discretion or preference
    Whatever their position, slaves were considered chattel, or property, and subject to the arbitrary whims of their owners.
Created on Thu Jul 01 16:15:44 EDT 2021 (updated Fri Jul 02 16:48:36 EDT 2021)

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