Mercantilism Notes

Multiple Choice

Which of the following best describes the main goal of mercantilism as practiced by Great Britain in the 1600s?

• To reduce the production of finished goods in the mother country

• To promote free trade between colonies and other nations

• To encourage colonies to become independent from the mother country

• To increase the wealth of the mother country by controlling trade and maximizing exports

Multiple Choice

What was the main goal of Britain in establishing a favorable balance of trade with its colonies?

• To create profit for the country

• To increase imports from other countries

• To reduce the number of colonies

• To eliminate tariffs on goods

Multiple Select

Which of the following were effects of the Navigation Acts on colonial trade?

• Colonists could only trade certain goods with Britain or other British colonies

• Profits from colonial trade returned to Britain

• Colonists could freely trade with any nation

• Colonists were forbidden from trading enumerated articles with foreign countries

Multiple Choice

Which of the following was a disadvantage of mercantilism for the colonies?

• Colonies could buy finished British products

• Colonies had a guaranteed outlet for their goods

• Colonies could not sell their goods to foreign nations

• Colonies could set their own market prices

Multiple Choice

What was the Triangular Trade?

• A trading network involving Britain, the American colonies, the West Indies, and West Africa

• A trade route between Britain and India

• A system of trade between only the American colonies and Britain

• A trade agreement between France and the American colonies

Multiple Choice

How did mercantilism affect the relationship between Great Britain and its colonies?

• It encouraged colonies to become independent from Britain.

• It led to the colonies supplying raw materials to Britain and buying finished products from Britain.

• It allowed colonies to freely trade with any country they wanted.

• It made Britain dependent on the colonies for manufactured goods.

Open Ended

What is mercantilism in your own words?