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Understanding Modern Capitalism: Essentials of Economy, Capitalism, and Mercantilism

Explore the fundamental concepts of modern capitalism, including the economy's components, capitalism as an economic system, banking functions, joint-stock companies, and the significance of mercantilism in wealth accumulation. Discover the impact of the Columbian Exchange and ponder key questions about explorers, colonization, and global gains.

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Understanding Modern Capitalism: Essentials of Economy, Capitalism, and Mercantilism

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Presentation Transcript

  1. Chapter 1 Section 2 The Rise of Modern Capitalism

  2. What does the word economy mean? A country’s economy involves: • The workers • The businesses • The type of money used • The resources of an area • What items are traded

  3. What is Capitalism? • Capitalism is an economic system in which money is invested in business.

  4. What do Banks do? • Loan money to people or businesses • Some of the first bankers were wealthy families from Italy, such as the Medici

  5. What are Joint-Stock Companies? • Organizations that sold stock, or shares, in a business or money making opportunity

  6. Mercantilism • A nation becomes more wealthy by building up its supply of bullion or gold and silver.

  7. The Columbian Exchange

  8. Questions • Why would explorers need banks and Joint-stock companies? • Why would countries in Europe want to set up colonies • What could European countries gain from the Americas, Asia, & Africa?

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