Mercantilism

Mercantilism was the economic system used by European Powers over their New World colonies. It required the colonies to have direct trade only with the European power and served to retard the development of industry in the colonies. Colonists tended to try to circumvent mercantilism through smuggling.

1,518 Questions
Mercantilism

How were the European systems of mercantilism and free enterprise similar during the 18th and 19th centuries?

Both systems greatly increased Europeans' total wealth.

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Mercantilism
Importing and Exporting

What can a nation do to solve the problem of maximizing exports and minimizing imports under mercantilism without benefiting their rivals?

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Mercantilism

How Through mercantilism limited trade during the age of exploitation, European economies grew rapidly during this period, largely because of?

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Mercantilism

The system of mercantilism is based on which concept?

help

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Mercantilism

What were the goals of a mercantilist economic policy in the colonial era?

First of all, you're from Fairfax High School taking AP US History, aren't you? Well, mercantilism is the belief that one person or nation could grow rich only at the expense of another nation, and that a nation's economic health depended on selling as much as possible to foreign lands and buying as little as possible from them. Based on that, the goals of a mercantilist economic policy would be to exploit the natural resources of another nation (in this case America) and try to buy as little as possible from England (one of the main reasons the colonies started to create metal works industries in the North). These industries that exploited the land provided commodities that could be exported to England as an exchange for some manufactured goods. The colonies were trying to be more self-sufficient since the ability of people to acquire manufactured implements lagged far behind the economy's capacity to produce them.

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Mercantilism

How did mercantilism increase the likelihood of conflicts between European powers?

Competition over wealth and resources-under the theory of mercantilism it was believed there was a limited amount of wealth in the world and power was given to the country that held the most wealth.

 Power and wealth are connected under the mercantilism theory. If there is only so much wealth in the world and a country must hold the most wealth to have the most power, then countries would be willing to fight each other for wealth. During the late 15th and early 15th centuries, this theory drove European countries to create colonies and trade connections with Asian Empires. In doing this they believed they were gaining power through the wealth of land and resources.

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Mercantilism

What is the principle of mercantilism?

According to mercantilism, the colonies were required to engage in two general behaviors: (1) The colonies were locked into exclusive trade between the colonies and the metropole and were not allowed to trade with any other nation or colony. (2) No manufactures or complex goods could be made in the colonial territory. As a result the colonies would provide wealth to the metropole by trading their natural resources for less than they would be worth and by buying manufactures for much more money.

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Business & Finance
Economics
Mercantilism

How does mercantilism compare with a free enterprise system?

Mercantilism is a system where economics is seen as a zero-sum game. As a result, metropoles passed regulations forcing their colonies to only trade with them in a scheme to maximize the value-added for the metropole. By contrast, a free enterprise system runs on the assumption that if each producer and consumer makes decisions exclusively based on personal interest (usually cost), wealth continually expands. Instead of being a zero-sum international economy, it becomes a question of an expanding pie.

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Mercantilism

How did the economic theory of mercantilism influence the exploration and settlement of North America by Europeans?

Once gold was discovered in America, countries wanted to capitalize on that and sent more people to settle in North America.

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Mercantilism

What are examples of mercantilism?

Mercantilism is a theory that a nation's economic strength came from protecting and increasing its home economy by keeping strict control over its colonial trade.

I guess examples can be:

England's finished products. England made the colonies trade with England only.

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Mercantilism

What was the british policy of mercantilism?

Government should regulate the trade to increase revenue and power.

Colonies should serve the mother country.

Mother country served by selling manufactured goods to the colonies.

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Mercantilism

What is the British economic policy of mercantilism?

Not one hundred percent sure, but the policy of mercantilism was that Africans were a better and cheaper labor source.

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Mercantilism

How did mercantilism and social political inequalities provoke resentment in American revolution?

Idk 😐

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Mercantilism

How did capitalist policies differ from mercantilist policies in 18th- and 19th-century Europe?

Under capitalism, merchants were able to conduct unrestricted international trade. Under mercantilism, international trade was restricted.

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Colonial America
Mercantilism

How did mercantilism affect the colonies?

According to mercantilism, the colonies were required to engage in two general behaviors: (1) The colonies were locked into exclusive trade between the colonies and the metropole and were not allowed to trade with any other nation or colony. (2) No manufactures or complex goods could be made in the colonial territory. As a result the colonies would provide wealth to the metropole by trading their natural resources for less than they would be worth and by buying manufactures for much more money.

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Mercantilism

According to the policy of mercantilism how could a nation increase in its wealth?

The theory of mercantilism held that a country's power depended mainly on its wealth. Wealth after all, allowed nations to build strong navies and purchase important goods. As a result to the policy of mercantilism the goal of every nation became the attainment of as much wealth as possible. Saying this they can increase their wealth by balance of trade and the economic revolution changes european society

source- Honors World Civ book

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Mercantilism

How did mercantilism cause the American revolution?

American colonists thought British taxes were unfair.

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Mercantilism

Who benefits most from mercantilism?

the mother counrty

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Mercantilism

Why did Americans oppose British mercantilism?

They wanted a glizzy

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Mercantilism

Under the economic policy of mercantilism which of these did the colonies not have to do?

Under the economic policy of mercantilism the thing that the colonies did not have to do was Manufacture the same items that were produced to England ------> Is MpK

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Mercantilism

How did Columbus mercantilism continue to drive world exploration even when it became clear that finding a westward route to Asia would be very difficult?

This is because they were desperate to find whatever was at the westward route.

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Mercantilism

What are some examples of mercantilism?

The McDonald's corporation and McDonald' restaurants

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Mercantilism

What role did mercantilism envision for the colonial possessions of a nation?

supporters of mercantilism thought that colonial possessions such as those in the states should serve as solely markets foe exports and suppliers of raw materials for mother country's industries

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Mercantilism

How did mercantilism affect the lives of native American Indians living in the new world?

Mercantilism created a need for workers on the plantations, ranches and mines of the European colonists. Most of the Native Americans were used as laborers to produce the raw materials for the European countries. The worked under harsh conditions and were often mistreated.

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Mercantilism

What was the purpose of colonies according to the theory of mercantilism?

raw materials and markets

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