Mercantilism: Economic Policy of Empires
Explore the principles and impacts of mercantilism, an economic theory dominant in Europe from the 16th to 18th centuries, focusing on its role in colonial expansion and international trade.
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Mercantilism: Economic Policy of Empires
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Read each question carefully and answer to the best of your ability. For multiple choice questions, circle the correct option. For fill-in-the-blank and short answer questions, write your response in the space provided.
1. Which of the following is a primary goal of mercantilism?
To promote free trade among all nations.
To increase a nation's wealth and power through a favorable balance of trade.
To establish democratic governments in colonies.
To encourage self-sufficiency in all colonies.
2. Under mercantilism, colonies were primarily valued for:
Providing military support to the mother country.
Serving as markets for manufactured goods and sources of raw materials.
Developing their own independent economies.
Acting as neutral trading partners.
3. Mercantilism emphasized the accumulation of and , often in the form of gold and silver.
4. A key component of mercantilism was a favorable balance of trade, meaning a nation should more than it .
5. Mercantilist policies generally encouraged economic independence for colonies.
True
False
6. The Navigation Acts were a series of mercantilist laws passed by Britain to control colonial trade.
True
False
7. Explain how mercantilism contributed to the growth of European empires.
8. Describe one negative impact of mercantilism on colonial economies.
Match each term with its definition.
9. Tariffs
a. Economic system where colonies exist to benefit the mother country
10. Mother Country
b. Taxes on imported goods
11. Balance of Trade
c. The colonizing nation that controls its colonies' economies
12. Mercantilism
d. The difference between a nation's exports and imports