Question

part 1 - vocabulary (match or define)
match the word with its meaning (or write a short definition):

1. commercial revolution -
2. joint - stock company -
3. inflation -
4. mercantilism -
5. banking system -

Explanation:

1. The Commercial Revolution refers to the economic changes in Europe from the 16th - 18th centuries, marked by the growth of trade, expansion of markets, and the rise of mercantilism.
2. A joint - stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders.
3. Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
4. Mercantilism is an economic theory and practice that advocates government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers.
5. A banking system is a group or network of institutions that provide financial services such as accepting deposits, making loans, and facilitating financial transactions.

Answer:

1. The economic changes in Europe from 16th - 18th centuries with trade growth, market expansion and rise of mercantilism.
2. A business entity with shares that can be bought and sold by shareholders.
3. A sustained increase in the general price level of goods and services in an economy over time.
4. An economic theory and practice advocating government - regulated economy for state - power augmentation at rivals' expense.
5. A group or network of institutions providing financial services like deposit - taking, lending and transaction - facilitation.