Mercantilism

What is mercantilism?

• A system where a mother countries gains money and power from natural resources that come from its colonies.
• where colonies trade gold and silver with each other.
• Wars that start over money.
• Plantation colonies trading slaves for money.

Mercantilism was the dominant economic policy during what centuries?

• 20th and 21st 
• 12th and 13th
• 17th and 18th
• 19th and 20th

Under the theory of Mercantilism, how was wealth defined?

• The amount of gold a country had
• A nation's ability to produce
• A country's diversity in materials
• How many colonies it controlled and owned

What products came out of England to supply its colonies?

• Timber and Furs
• Rum and Guns
• Manufactured Goods
• Slaves and Ships

How did England define a "favorable balance of trade?"

• It bought more goods than it sold
• It sold more goods than it bought
• All trade would be balanced
• It forced colonists to mine gold and silver

Which of the following was NOT a principle of mercantilism?

• Export more than you import.
• Import more than you export.
• Settle as many colonies as possible
• Gain as much gold and silver as possible.

Mercantilism is an example of 

• a political theory
• An economic theory
•  A social theory
• A philosophical theory

According to the theory of Mercantilism, what should be the role of the colony?

• To provide the mother country with manufactured goods
• To ensure the development of the colony
• To provide the mother country with natural resources
• To allow the colony t become profitable

What is a tariff?

• A high tax on exports
• A high tax on colonies
• A high tax on mohter countries
• A high tax on imports

What is an export?

• Goods coming into a country
• Things being thrown around from country to country
• Goods being traded
• Goods leaving a country