Mercantilism Quiz

Why did England start the American colonies?

• To establish independence from British control

• To promote religious freedom

• To provide economic benefits for Great Britain

• To expand their territory

Explain how England 'carefully controlled trade'.

• By establishing fair trade agreements

• By imposing high taxes on imported goods

• By allowing colonies to freely trade with other countries

• By encouraging colonies to produce a variety of goods

What is an import?

• Goods shipped out and sold to other countries

• Goods produced within a country

• Goods bought from other countries

• Goods consumed by the colonies

What is an export?

• Goods shipped out and sold to other countries

• Goods bought from other countries

• Goods produced within a country

• Goods consumed by the colonies

Who does mercantilism benefit?

• All countries involved in trade

• The mother country

• Other European countries

• The colonies

EXPORTS of the 13 colonies included:

• Manufactured goods

• Raw Materials

• Slaves

• Gold

In its economic relationship with its North American colonies, Great Britain followed the principles of 18th-century mercantilism by

• limiting the colonies’ trade with other nations

• encouraging the development of manufacturing in the colonies

• outlawing the African slave trade

• establishing laws against business monopolies

The goal of mercantilism was to create a “favorable” balance of trade by

• importing more than was exported
• exporting more than was imported

The economic policy that made the "mother country" rich by not letting colonies trade with anyone else was known as...

• Salutary Neglect

• Free Market System

• Capitalism

• Mercantilism

Click on who benefits the most from "mercantilism?"