The Economic Foundations of Absolutism in Europe

The video explores the shift towards absolutism in Europe from 1648 to 1815, focusing on the economic system of mercantilism. Mercantilism is defined as a state-driven system aimed at accumulating mineral wealth through a favorable balance of trade. The video discusses the role of colonies in providing raw materials and markets for manufactured goods, leading to intense rivalries among European states. It also highlights the impact on global trade, including the rise of consumer culture and the increased demand for enslaved labor, contributing to the Triangular Trade.

What economic system supported the shift towards absolutism in Europe?

• Mercantilism

• Feudalism

• Socialism

• Capitalism

How does a command economy differ from a market economy?

• A market economy has no private entities.

• A command economy is guided by state decisions.

• A command economy is driven by private decisions.

• A market economy is controlled by the government.

In mercantilism, what is considered a measure of wealth?

• Military strength

• Land ownership

• Gold and silver

• Population size

Why did mercantilism lead to rivalries among European states?

• Because states shared resources

• Because states avoided trade

• Because wealth was infinite

• Because wealth was finite

What is a key strategy in mercantilism to accumulate wealth?

• Increasing imports

• Decreasing exports

• Maintaining a favorable balance of trade

• Avoiding trade with other countries

How did mercantilism affect Europe's position in the world economy?

• It isolated Europe from global trade.

• It strengthened Europe's position.

• It had no effect on Europe's position.

• It weakened Europe's position.

What role did colonies play in the mercantilist system?

• They were used for cultural exchange.

• They provided military support.

• They were sources of raw materials and new markets.

• They were independent economic entities.

What was the purpose of the British Navigation Acts?

• To restrict trade to British ships

• To encourage trade with all nations

• To promote free trade

• To eliminate tariffs

What was a consequence of the increased demand for New World products?

• A reduction in slavery

• A decline in global trade

• A decrease in European population

• A rise in consumer culture

What was the Triangular Trade?

• A three-part trade system across the Atlantic

• A trade route between Europe, Asia, and Africa

• A triangular alliance of mercantilist states

• A trade agreement between three European countries