Mercantilism

Front

Sending goods to another country for sale

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Export

Front

Bringing goods into a country from abroad for sale.

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Import

Front

What is raw material?

Back

Resources used to make a product

Front

What did European countries do with raw materials?

Back

Convert them into final products

Front

Definition: Natural resources that have not yet been converted into anything, such as timber or extracted coal

Back

Raw materials

Front

What is the main goal of mercantilism?

Back

Accumulating as much gold and silver as possible

Front

What are the benefits of establishing colonies for trading powers?

Back

Access to raw materials and new markets for manufactured goods

Front

What is the measure of wealth in the mercantilist view?

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Gold and silver

Front

What does the term Transatlantic Trade in the 17th century refer to?

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A trade route connecting Europe, Africa, and the Americas