STAAR #2 Vocabulary

What is a joint stock company?

• A business owned by a single individual

• A business founded by a group of people who make an investment and share in profits and losses

• A government-owned corporation

• A non-profit organization

What is a colony?

• A land claimed by a country in a different area of the world

• A small village within a country

• A type of government system

• A military base

What is mercantilism?

• A system where colonies exist to benefit the Mother Country financially

• A form of democracy

• A type of agricultural practice

• A religious movement

What is free enterprise?

• A system where the government controls all businesses

• Businesses compete for consumers who are free to decide where to purchase goods

• A type of monopoly

• A form of taxation

What was the triangular trade?

• A trade route between the 13 colonies, Africa, and the West Indies

• A trade agreement between Europe and Asia

• A local market exchange

• A modern trade agreement

Who was an indentured servant?

• A person who worked in exchange for passage to North America

• A free landowner

• A government official

• A wealthy merchant

What is a monarchy?

• A system of government in which power is held by a queen or king

• A democratic government

• A type of economic system

• A religious institution

Who is a slave?

• A person who is purchased to work for life on a plantation

• A free citizen

• A government official

• A landowner

What are staple crops?

• Crops that are always in demand

• Crops grown for export only

• Crops used for decoration

• Crops that are rarely grown

What is a protective tariff?

• A tariff placed on foreign goods to protect domestic industry

• A tax on local goods

• A type of insurance

• A form of currency