Front

What is mercantilism?

Back

A system where a mother country gains money and power from natural resources that come from its colonies.

Front

True or False? Great Britain wanted to create wealth by importing more goods than it exported.

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False

Front

Term for a good sold to another country?

Back

Export

Front

The impact of mercantilism was that

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The mother country grew wealthy

Front

Wood, water, bricks, and corn are all from the earth. These are called:

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raw materials

Front

Raw materials are used to make the things we create ourselves or buy in stores. Those things are:

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manufactured goods

Front

How does mercantilism benefit the mother country based on the political cartoon?

Back

The colonies provide everything to the mother country.

Front

Mercantilism is when

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Raw materials were bought cheaply by the 'Mother Country' and sold as refined materials to the colony

Front

In this economic system, a mother country gained wealth by...

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carefully controlling trade

Front

A favorable balance of trade is achieved when:

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You export more than you import.