Mercantilism and Colonial Economies: Unpacking Historical Economic Policies

The video discusses mercantilism, an economic theory focused on accumulating gold and silver. Colonies played a crucial role by providing raw materials, which were manufactured in the mother country and sold back to the colonies and other nations. The Navigation Acts restricted colonial trade, leading to discontent and smuggling. Rebellions like Bacon's Rebellion and unrest in the colonies were fueled by these restrictions. The Glorious Revolution in England led to a period of salutary neglect, easing tensions as the new government was more lenient towards the colonies.

What was the primary belief of mercantilism regarding a country's power?

• It was determined by the number of colonies it possessed.

• It was determined by its technological advancements.

• It was determined by the size of its army.

• It was determined by the amount of gold and silver in its treasury.

Why were colonies considered valuable under mercantilism?

• They were sources of new technology.

• They provided a market for finished goods.

• They offered military support.

• They supplied raw materials without gold outflow.

What was the purpose of the Navigation Acts?

• To ensure all colonial trade benefited the mother country.

• To promote free trade among colonies.

• To reduce taxes on colonial goods.

• To allow colonies to trade freely with foreign nations.

How did the Navigation Acts affect colonial trade?

• They eliminated taxes on colonial goods.

• They allowed colonies to trade with any country.

• They made trade easier and more profitable.

• They restricted trade to English ships and imposed taxes.

What was the Dominion of New England?

• A union of several colonies under a royal governor.

• A trade agreement with the Caribbean islands.

• A new colony established by England.

• An alliance between England and the Dutch.

What was a significant consequence of the Dominion of New England?

• Increased trade with foreign nations.

• Economic prosperity for the colonies.

• Improved relations with Native Americans.

• Serious protests and threats of rebellion.

Who led a rebellion in New York against colonial power?

• Nathaniel Bacon

• William of Orange

• John Coode

• Jacob Leesler

What was ironic about John Coode's revolt in Maryland?

• It strengthened the power of the Calverts.

• It was supported by the Catholic Church.

• It resulted in the persecution of Catholics.

• It led to the protection of Catholics.

What was the Glorious Revolution of 1688?

• A rebellion in the American colonies.

• A war between England and the Netherlands.

• A peaceful change of government in England.

• A violent overthrow of the English monarchy.

What was the effect of the Glorious Revolution on the American colonies?

• A period of salutary neglect with more freedom.

• A military occupation by English forces.

• A new wave of colonization.

• Increased taxes and stricter laws.