Mercantilism and the Navigation Acts Impact on Colonial Economy

The video lesson by Mr. Hoven covers Mercantilism and the Navigation Acts. It begins with a recap of the French and Indian War, explaining the British debt incurred. The lesson then defines import and export, followed by an in-depth look at Mercantilism, where colonies exist for the mother country's profit. The system involves sending raw materials to Britain, which returns manufactured goods, heavily taxed. The Navigation Acts enforced British trade control, restricting colonies to British ships and goods. This led to colonial resentment, contributing to the Revolutionary War.

What was one of the main financial consequences for Great Britain after the French and Indian War?

• They had to pay reparations to France.

• They gained significant wealth from new territories.

• They incurred a large amount of debt.

• They lost all their colonies.

What does it mean to import goods?

• To send goods to another country.

• To bring goods into a country.

• To produce goods locally.

• To sell goods at a local market.

What is the primary goal of Mercantilism?

• To promote free trade among nations.

• To make the mother country wealthy.

• To reduce taxes on colonies.

• To ensure colonies become independent.

Under Mercantilism, what role do colonies play?

• They are centers for manufacturing finished goods.

• They are sources of raw materials for the mother country.

• They are free to trade with any country.

• They are independent economic entities.

How did Great Britain benefit from the Mercantilism system?

• By reducing taxes on imported goods.

• By allowing colonies to trade freely.

• By exporting more than it imported.

• By importing more than it exported.

What restriction did the Navigation Acts impose on the colonies?

• Colonies could only use British ships for trade.

• Colonies could trade freely with any nation.

• Colonies could only produce finished goods.

• Colonies could not trade with Great Britain.

What was a major consequence of the Navigation Acts for the colonies?

• Increased independence from Great Britain.

• Improved relations with other European countries.

• Resentment and a sense of exploitation.

• Greater economic prosperity.

What was a key grievance of the colonies under Mercantilism and the Navigation Acts?

• They received fair compensation for raw materials.

• They had representation in the British government.

• They were taxed without representation.

• They were allowed to trade freely.

What did the colonies have to produce under the Mercantilism system?

• Raw materials needed by Great Britain.

• Finished goods for local markets.

• Weapons for the British army.

• Luxury items for European markets.

What was one of the long-term effects of the Mercantilism and Navigation Acts on the colonies?

• Strengthened loyalty to the British crown.

• Increased economic independence.

• Contributed to the Revolutionary War.

• Improved trade relations with France.