AP®︎ European History: Topic 1.10 Flashcards

The gradual expansion of European commerce, finance, monetary exchange, private investment, and market-oriented agriculture from about 1450 to 1648

An economic system organized around private investment, long-distance trade, credit, and profit

The treatment of land and agricultural production as sources of marketable goods, monetary income, and investment profit

An economy in which rents, wages, taxes, debts, and purchases are increasingly valued and paid in money rather than barter or labor alone

Banking that holds merchants’ funds and transfers or clears payments without requiring every transaction to use physical coin

A financial instrument allowing merchants to make or receive payment in another city without transporting large quantities of coin

Insurance that distributed losses from shipwreck, piracy, or wartime seizure, converting the threat of catastrophic loss into a predictable cost

Accounting that records each transaction as corresponding debit and credit entries, helping merchants track errors, assets, liabilities, and profits

Financial firms that provided deposits, credit, currency exchange, and transfers while connecting commercial wealth to rulers and governments

An enterprise in which multiple investors pooled capital and divided potential profits and losses through shares

A bank founded in 1609 that accepted deposits and cleared payments in reliable bank money, strengthening Amsterdam as a financial center

An English joint-stock company chartered in 1600 that pooled private capital for long-distance trade under state-granted monopoly privileges

A Dutch joint-stock company chartered in 1602 with transferable shares and powers to build forts, negotiate treaties, and wage war

The gathering and reinvestment of wealth in ships, goods, loans, land, or shares to produce additional profit

The sustained, uneven rise in European prices during the sixteenth and early seventeenth centuries, driven chiefly by population recovery and American silver

Nominal wages are the stated amount of pay; real wages are that pay’s purchasing power, which fell when prices rose faster than wages

Farming primarily to meet a household’s needs and obligations, with only a modest surplus sold in markets

A village farming system in which households cultivated scattered strips within shared fields and used common land under customary rules

A northern European system dividing land among autumn grain, a spring crop, and fallow, with those uses rotating among the fields each year

A Mediterranean system in which cultivation and fallow alternated between two portions of the arable land

Shared village land and resources used under customary rights for grazing, firewood, peat collection, and gleaning

The reorganization of farming toward specialized production for regional or international markets rather than primarily household subsistence

The consolidation of scattered strips and common lands into separately controlled holdings, often restricting peasants’ customary access

Secure, inheritable control of land with fewer manorial labor obligations, allowing greater independence, investment, sale, lease, or consolidation

The early modern reinforcement of eastern European serfdom as nobles restricted peasant mobility and expanded compulsory labor on export-oriented estates

A 1524–1525 revolt against feudal burdens and violations of village rights that was suppressed by princely and noble forces

A 1549 English rising in which Norfolk rebels attacked enclosures and defended traditional land-use rights before government forces defeated them

Merchants, bankers, financiers, officeholders, and commercial landowners whose wealth came increasingly from commerce, finance, and market production

Wealthy commercial families, especially in Italian cities, who converted profits from banking and trade into land, office, political influence, and patronage

Nobles of the robe gained status through judicial or administrative office, while nobles of the sword derived status from older hereditary military traditions

Movement into cities that supplied labor but strained guild control, housing, sanitation, employment, poor relief, and established political monopolies

A period of generally cooler and less stable conditions that shortened growing seasons and contributed to poor harvests, famine, and economic insecurity

The western and northwestern European tendency toward late marriage and frequent nonmarriage, delaying childbearing and restraining population growth

An Augsburg banking family whose wealth from banking, mining, and trade financed the Habsburgs and brought political influence and commercial privileges

Western Europe generally developed freer peasantries, money rents, and commercial tenancy, while eastern Europe reinforced serfdom and compulsory labor on noble export estates