Economic Systems: Mercantilism

What is an economic system?

• they system of how money is made and used in a country or region

• the system of England trading with France

• the system of how colonists fight against England

What economic system did European countries practice during the 1600s and 1700s?

• command

• mercantilism

• market

What does mercantilism mean?

• colonies existed so they could manufacture goods for their mother country

• colonies existed to benefit their mother country's enemies with raw materials

• colonies existed to benefit their mother country as a source of raw materials and a market for manufactured goods.

What were some pros of mercantilism?

• middle passage, taxes

• navigation acts

• triangular trade route, headright systems, and plantations

What were some of the cons of mercantilism?

• middle passage, navigation acts, taxes

• headright system

• middle passage

• triangular trade route

What was the Headright System?

• power was given to France

• land was given to settlers

• taxes were put on goods

What was the Middle Passage?

• route to America from Europe

• route to Europe that many Africans died on

• route to America that many Africans died on

Why did some European countries use mercantilism?

• to make each other mad

• to make their mother country proud

• to gain power

What are taxes?

• extra money on goods that goes to the government

• extra money that is given to the colonists

• what slaves had to pay to plantation owners

What happened to the English because of mercantilism?

• they became the most powerful country

• they became weaker and poorer

• they became stronger and wealthier