• People have the right to private property.
• The necessities of production, distribution, and ownership were in the hands of individuals and companies.
• Individuals engage in economic activity primarily for profit.
• Individuals compete to reach their economic goals.

Understandings of Mercantilism

• The wealth of a country like Spain could be measured by the amount of bullion such as gold or silver that it possessed, supported by influx of bullion from the New World.
• It was necessary to export more than import in order to maintain a balance of gold in its possession.
• A system of international business ventures sponsored by the monarch to ensure the supply of bullion
• Trade activities were strictly regulated.
• Naval power was essential to maintaining the wealth and power, especially overseas.
• Colonies could provide captive markets for manufactured goods and sources of raw material.
• A large population was needed to provide a domestic labor force to people the colonies.

Reflection

Contact Between the Groups: What, Where, Why, When, and How?

Read 

In your textbook read pages 116-126. 

Quiz

What led to contact between Indigenous and non-Indigenous peoples? Assess your understandings of the factors, the contacts, and the views surrounding the first meetings between Indigenous and non-Indigenous peoples. Select the most appropriate response to the questions in Contact between Indigenous and Non-Indigenous Peoples.

There are 5 questions on this quiz. Give yourself 20 minutes to complete. 

Comparing the Impacts of Contact Quiz 

The historical origins of globalization began with first contact. By the thirteenth century, the contact Western Europeans established with the Indigenous peoples of the Americas was facilitated by advancements in technology that enabled the overseas voyages. The reasons for contact are diverse. Some of the voyages were driven by economic and social motives. Other voyages occurred because of geographic proximity or the search for faster routes to India. Columbus’s first contact with Taino peoples of the Bahamas, Cartier and the Mi’kmaq in 1534, and Portuguese explorer Cabral’s meeting with the Indigenous peoples of Brazil are some examples of the contacts between Western Europeans and Indigenous peoples. In the next lesson you will examine legacies of the economic, political, and social relationships that developed between them.

First contact between Indigenous and non-Indigenous peoples was not restricted to North America nor did they only take place after the thirteenth century. You can research further by exploring the following topics:

• Silk Road

• Marco Polo

• Ibn Battuta travels to Asia and Africa

• James Cook