Mercantilism

Match the following

• Parliament

• an economic theory that held that colonies helped a country become wealthy by providing raw materials

  and markets for goods produced in the home country

• smuggle

• to carry in or bring out in a secret way

• Mercantilism

• the lawmaking body of British government

• enforce

• to rise up against a government; a dramatic change

• revolution

• to make people obey a rule or law

Which practice was characteristic of mercantilism?

• buying raw materials from colonists and selling them finished goods

• prohibiting colonists from fishing and trading in furs

• shipping large amounts of gold and silver from Europe to the colonies

• increasing the use of slave labor to manufacture goods in Europe

According to the theory of mercantilism, the principal purpose of the thirteen American colonies was to provide Great Britain with —

• naval bases

• raw materials and markets

• manufactured goods

• military recruits

The economic system illustrated by this cartoon was opposed by later American colonists because it —

• supported colonial manufacturing

• took gold and silver from American mines

• required colonists to sell their raw materials to and buy their finished goods from England

• prohibited colonists from fishing or trading in furs

In the 1760s, the British system of mercantilism was opposed by many American colonists because it -

• placed quotas on immigration

• discouraged the export of raw materials to England

• placed restrictions on colonial trade

• encouraged colonial manufacturing

The policy of mercantilism is best described as the idea that

• colonies should be self-sufficient (independent) economically, and free to trade with anyone else

• government regulation is harmful to a country's economic growth

• economic prosperity for the ruling country can only be achieved through naval superiority

• colonies should buy goods from and sell materials to the ruling country

 

A series of laws passed by the English Parliament in the 1650s that established rules for trade between England and its colonies (2)

• Triangular Trade

• Mercantilism

• Colonization

• Navigation Acts

Representative assembly in England

• Virginia House of Burgesses

• Persecution

• Colonization

• Parliament

Sending goods to another country to sell

• Charter

• Import

• Export

• Joint-Stock Company

Bringing goods into a country from abroad to sell.

• Export

• Charter

• Joint-Stock Company

• Import