Mercantilism & Slave Trade Review

How did countries build wealth under Mercantilism? (pick 2)

• collecting gold and silver

• collecting salt

• creating a favorable trade balance

• trading with other countries

Which is NOT true of Mercantilism?

• Nation's wealth is measured by how much gold it has

• Countries must have colonies to provide raw materials

• Only a fixed amount of wealth exist in the world

• Colonies are ok to trade with whichever countries they choose

Under Mercantilism, colonies ...

• Existed only to benefit the Mother country

• Colonies had a lot of freedoms

• Colonies were not necessary for gaining wealth

• Colonies were where manufactured goods were made

Under Triangular Trade, colonies mostly traded ________ with Europe

• Manufactured goods

• raw materials

• slaves

• nothing

Mercantilism impacted Europe by .... (pick two )

• creating a lot of wealth

• Increasing conflict and war over controlling the Americas

• decreasing wealth in Europe

• Increasing the population

Mercantilism impacted the colonies by ... (pick two)

• building an economy based on manufacturing

• building an economy based on raw materials

• Encouraging smuggling

• gaining a lot of wealth

Mercantilism impacted Africa by ... (pick two)

• Increasing the development of manufacturing

• more people moving into west Africa

• increasing the demand for firearms

• decreasing the population through the slave trade

Under the Triangular Trade, Europe mostly traded ______ with Africa and the Americas?

• Slaves

• Raw Materials

• Manufactured Goods

• Gold and SIlver

What is meant by a balance of trade?

• Ensuring all countries trade fairly

• difference between how much a country imports and how much it exports

• when a country exports more than it imports

• When a country imports more than it exports

What was the Encomienda system?

• Trade system developed to export slaves from Africa

• Labor structure in the Spanish Colonies

• Economic system based on gold, silver and trade

• Taxation system used by England to place terrifies on the colonies