Ch 16 2 Compass Jointstock Company Mercantilism Favorable

Ch. 16. 2 • Compass • Joint-stock Company • Mercantilism • Favorable Balance of Trade • Tariffs • Subsidies • Commercial Revolution

• What do you see in this image? • What kind of image is it? A painting or photograph? • Is this image old or new? How do you know? • What do you think might be in the rest of the painting?

• What types of people have now been revealed in the painting? • Describe what they look like. What are they wearing? • What are they doing? Why? • What do you think might be in the rest of the painting?

• Who else now appears in the painting? • What do you think is taking place? • Who might the man be bowing to?

• Now what do we see in the painting? • What does this represent? Who specifically? • What is the significance of all of the different characters? Why are they all there?

Who are the people in the background? What might be a good title for this painting?

Commercial Revolution • 1400 s-1700 s • Standard system of money is utilized • Coins now had fixed values • Encouraged international trade and banking • Banks made loans to those who wanted to explore • Joint-Stock Company: owners sold shares or stock in the company. • Investors then became co-owners and shared in the profits. • Key Explorers: Spain, Portugal, and France

Mercantilism • Seek to acquire as much wealth as possible • To acquire wealth, one must take it from another country, since there was a fixed amount of wealth in the world • Favorable balance of trade: take more gold and silver from one country than it pays them • Tariffs, or taxes on imports • Discouraged buying foreign goods • Exports of manufactured goods • Sell goods to other countries • Control sources overseas such as raw materials and precious metals • Colonial markets become a key to financial success

Social Change • Renaissance and Scientific Revolution • Curiosity and Discovery • Population increase in Europe • Gain land possible wealth elsewhere • Reap quick profits • Religious Freedom

Explorer Poster • Create a poster recruiting seamen for a 16 th century sailing expedition. • You must include the following: • Nation sponsoring the trip • Include Map of Nation • Reasons for sponsoring trip • At least 5 • Incentives for Explorers • At least 5 • Effective visuals such as maps and resources • At least 5 (use map routes and goods sought) • Implement Vocabulary Terms • At least 5 Terms • Poster must be at least 8*10

Early Global Commodities • Define Globalization • What is globalization and when did it begin? Before the sixteenth century, the world's four main monetary substances were silver, gold, copper, and shells. But it was China's demand for silver and Spain's newly discovered mines in the Americas that finally created an all-encompassing network of global trade. • Video Summaries • Video Notes