The reason for this maritime movement was to obtain labour as the indigenous population of the New World had declined rapidly because of its lack of immunity against imported pathogens.

The triangular trade refers to a model for economic exchange among three markets. Historically, the triangular trade among Europe, West Africa and the New World ran on the backs of millions of enslaved people. Image source.

The "middle passage," which brought the slaves from West Africa to the West Indies, might take three weeks. Unfavorable weather conditions could make the trip much longer

In 1492, Columbus brought the Eastern and Western Hemispheres back together. The resulting swap of Old and New World germs, animals, plants, peoples, and cultures has been called the “Columbian Exchange.”

Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.

Joint-stock companies first emerged in Europe during the medieval period and became more common during the sixteenth century and the first wave of European exploration and colonialism.

What Is Mercantilism?
Mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports and reducing imports.

A favorable balance of trade exists when the value of the exports is greater than the value of the imports.

The term mestizo means mixed in Spanish, and is generally used throughout Latin America to describe people of mixed ancestry with a white European and an indigenous background.