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Mercantilism Vocabulary Quiz

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is the definition of mercantilism?

a)

A policy of free trade between nations

b)

An economic theory where a nation seeks to increase its wealth by controlling trade and accumulating precious metals

c)

The act of smuggling goods into a country

d)

A system of government based on democracy

2.

What does the term "export" mean?

a)

Goods brought into a country from abroad

b)

Goods sent out of a country to be sold elsewhere

c)

Raw materials used in manufacturing

d)

Laws restricting trade

3.

What is meant by "import"?

a)

Goods sent out of a country

b)

Goods brought into a country from abroad

c)

The act of smuggling goods

d)

Laws regulating trade

4.

Which best describes "raw materials"?

a)

Finished products ready for sale

b)

Basic substances used to produce goods, such as timber, cotton, or sugar

c)

Laws restricting trade

d)

Goods smuggled into a country

5.

What was the Triangular Trade?

a)

A trade route between three regions: Europe, Africa, and the Americas, involving goods, slaves, and raw materials

b)

A system of trade between two countries

c)

A law restricting colonial trade

d)

A method of manufacturing goods

6.

What does "Salutary Neglect" refer to?

a)

Strict enforcement of colonial laws by Britain

b)

British policy of loosely enforcing laws in the American colonies

c)

The act of exporting goods

d)

The process of manufacturing raw materials

7.

What were the Navigation Acts?

a)

Laws passed by England to restrict colonial trade and ensure it benefited England

b)

Agreements allowing free trade between colonies and other nations

c)

Acts of smuggling goods into the colonies

d)

Policies encouraging colonial self-government

8.

What is smuggling?

a)

The legal import of goods

b)

The illegal movement of goods into or out of a country to avoid taxes or restrictions

c)

The process of manufacturing goods

d)

The export of raw materials

9.

What were the Restraining Acts?

a)

Laws passed to limit colonial self-government and restrict colonial assemblies

b)

Acts encouraging free trade

c)

Laws allowing colonies to trade with any country

d)

Policies promoting the export of raw materials

10.

Which term refers to basic substances like timber, cotton, or sugar that are used to produce goods?

a)

Export

b)

Raw materials

c)

Import

d)

Smuggling