Mercantilism

This is a tax on goods brought into a country...

• Mercantilism

• Feudalism

• Tariff

• Market

Who controls and regulates trade in a mercantilist economy?

• The government

• Tax payers

• Individuals

• Voters

What group of people benefited from the introduction of international trade?

• Nobles

• Kings

• Europeans

• Merchants

What is one role colonies play in a mercantilist system?

• Colonies purchase raw materials from other countries.

• Colonies manufacture finished products for the mother country.

• Colonies sell raw materials to other countries.

• Colonies purchase finished products from the mother country.

What was the goal of mercantilism?

• To control trade and gain wealth

• Make colonies wealthy

• Import many goods from other nations

• Share wealth with other nations

Which response BEST represents feudalism?

• Exports have greater value than imports

• Land ownership for protection

• Building up bullion for homeland

• Government regulates trade

Definition: When the value of what a country exports is more than the cost of imports

• Capitalism

• Bullion

• Favorable balance of trade

• Economics

Definition: Natural resources that are not yet made into anything such as cut trees or coal that has been mined

• Natural Resources

• Raw Materials

• Exports

• Imports

What economic principle is illustrated in the image below?

• Captialism

• Feudalism

• Socialism

• Mercantilism

What is NOT the goal of the mother country in a mercantilist economy?

• Import many goods from other countries.

• Establish colonies to gain raw materials.

• Create a favorable balance of trade.

• Gain as much gold and silver as possible.