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Full list of words from this list:

words only definitions & notes
  1. external
    from or between other countries
    After reaching its peak at the end of the 16th century, Spain’s global empire began to decline as a result of internal and external problems. (4.3.A)
  2. inflation
    a general and progressive increase in prices
    Internally, Spain was unable to manage the rising inflation related to its silver production. (4.3.A)
  3. deplete
    use up, as resources or materials
    Spain’s trade imbalance with England and the Netherlands depleted Spain of much of its silver. (4.3.A)
  4. crucial
    of extreme importance; vital to the resolution of a crisis
    Each of these countries also established professional navies and armies to help create and make profitable trade routes and colonies, which were crucial sources of tax revenue. (4.3.A)
  5. revenue
    government income due to taxation
    Each of these countries also established professional navies and armies to help create and make profitable trade routes and colonies, which were crucial sources of tax revenue. (4.3.A)
  6. financial
    involving fiscal matters
    By the early 17th century, the more financially secure states were challenging Spain’s dominance in the North Atlantic by covertly supporting raids on Spanish ships and establishing colonies in North America and the Caribbean. (4.3.A)
  7. dominance
    the state when one person or group has power over another
    By the early 17th century, the more financially secure states were challenging Spain’s dominance in the North Atlantic by covertly supporting raids on Spanish ships and establishing colonies in North America and the Caribbean. (4.3.A)
  8. covert
    secret or hidden
    By the early 17th century, the more financially secure states were challenging Spain’s dominance in the North Atlantic by covertly supporting raids on Spanish ships and establishing colonies in North America and the Caribbean. (4.3.A)
  9. enact
    order by virtue of superior authority; decree
    In the 17th century, maritime empires, including France, England, and the Netherlands, enacted a series of policies that became known as mercantilism. (4.3.B)
  10. mercantilism
    a system of increasing wealth through colonization and trade
    In the 17th century, maritime empires, including France, England, and the Netherlands, enacted a series of policies that became known as mercantilism. (4.3.B)
  11. finite
    bounded in magnitude or spatial or temporal extent
    Mercantilist thinkers believed that wealth was a finite resource best measured in gold and silver bullion. (4.3.B)
  12. bullion
    gold or silver in bars or ingots
    Mercantilist thinkers believed that wealth was a finite resource best measured in gold and silver bullion. (4.3.B)
  13. accordingly
    (sentence connectors) because of the reason given
    Accordingly, these states sought to increase exports while reducing imports in order to increase their gold and silver reserves. (4.3.B)
  14. import
    commodities bought from a foreign country
    Accordingly, these states sought to increase exports while reducing imports in order to increase their gold and silver reserves. (4.3.B)
  15. reserve
    something kept back or saved for future use
    Accordingly, these states sought to increase exports while reducing imports in order to increase their gold and silver reserves. (4.3.B)
  16. tariff
    a government tax on imports or exports
    Mercantilist policies included raising protective tariffs and lowering or removing taxes on exports. (4.3.B)
  17. fiscal
    involving financial matters
    Silver supplies from Japan initially met all of China’s fiscal and commercial needs. (4.3.C)
  18. integration
    the act of combining into a whole
    The increase in Spanish silver production in the 16th century led to greater European participation in global trade and expanding levels of global economic integration. (4.3.C)
  19. porcelain
    ceramic ware made of a more or less translucent ceramic
    In exchange, these companies brought back spices, porcelain, cotton, and silk textiles. (4.3.C)
  20. circulate
    cause to be distributed
    By the early 18th century, the vast majority of silver mined in the Americas circulated in Asian economies. (4.3.C)
Created on Mon Jul 20 17:04:34 EDT 2020 (updated Thu Jul 23 09:39:16 EDT 2020)

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