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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.
500 Questions
What statement best describes the theory of mercantilism?
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export more goods than are imported.
How did mercantilism influence the overseas expansion of many European Countries?
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How were colonies viewed in the mercantilist system?
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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.
What was the purpose of the colonies according to the idea of mercantilism?
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to produce raw materials for Great Britain
Why was the British system of mercantilism opposed by Americans?
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because is placed quotas on Immigration
What is an example of a sentence using the word mercantilism?
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Mercantilism was a way to get money from other nations. It is an example of mercantilism in a sentence.
What role did mercantilism envision for the colonial possessions of a nation?
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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
