Unit 1: Colonial Era Review (Standard 1)

The economic theory of mercantilism stated that

• the purpose of an empire's colonies was to benefit the mother country economically

• charters would be given to companies from the king in order to take the financial risk away from the monarch

• a policy of salutary neglect would be utilized so that the colonists in America would build a sense of autonomy early on in their existence.

• The government could tax any and all citizens without any representation from the various populations

Under mercantilism, the thirteen American colonies were expected to provide Great Britain with

• finished American-manufactured goods

• raw materials and markets for British products

• officials to represent colonial interests in Parliament

• laborers to work in British factories

Which economic policy was based on the idea that the American colonies existed primarily to provide economic benefits for Great Britain?

• mercantilism

• socialism

• free trade

• laissez-faire capitalism

Mercantilism is an economic theory that builds wealth and power by getting more natural resources from colonies

• True

• False

Trade network between Europe, Africa, and the Americas.

• Mercantalism

• Middle Passage

• Trans-Atlantic Trade

• Silk Road

During the 17th century, major overseas trade shifted from the Mediterranean to the

• Pacific Ocean.

• Atlantic Ocean.

• Indian Ocean.

• Arctic Ocean.

An economic system in which nations seek to increase their wealth and power by obtaining large amounts of gold and silver and by establishing a favorable balance of trade.

• Mercantalism

• Capitalism

• Communism

• Socialism

Which colonies have large plantations?

• Middle
• Southern
• New England
• Northeast

Which group are the Southern colonies?

• Connecticut 
  New Hampshire
  Rhode Island
  Massachuttes
• North Carolina
  South Carolina
  Virginia
  Maryland
  Georgia
• Pennsylvania
  Delaware
  New York
  New Jersey
• Florida
  Georgia
  Louisiana
  Alabama

A business in which investors pool their wealth for a common purpose.

• Corporation

• Partnership

• Stock

• Joint Stock Company