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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.
674 Questions
What war was between the thirteen colonies and British mercantilism?
The American Revolution was the war between the thirteen colonies and British mercantilism.
What are the pros and cons of Mercantilism?
Pros:
- promotes independence and imperialism within nations, especially through the cultivation of colonies (allies)
- increases nations wealth and security by imposing government intervention and regulation
- it results in a more stable economy and country overall
Cons:
- not very efficient because since it tries to avoid foreign trade and foreign imports- through high tariffs, sanctions, etc-the global economy can fail; especially considering the fact that many countries would be lacking the resources of this monarchy's resources
- because of its worth through the possession of precious metals such as gold and silver, there is a need to increase the supply of those materials, which can potentially decrease natural resources
Under mercantilism what was a nation's wealth defined as?
the amount of gold, silver, and tradable manufactured goods it controlled
it lead to increased global trading because when the colonies established there was another place to trade with, not only for england but also for other places like africa and the british west inides. And it was over the world hints the word "global". And mercantilism because it said the colonies HAD to send for example wood to england then england would make a chair and send it back anf th colonies would buy it. That's trading instead of the colonies just making the chair, then there wouldn't be as much trading.
-KKS
The colony would be encouraged to develop it's own form of self-government.
How will mercantilism benefit the Mother country?
If trade expands in the colonies it will make the colony stronger and more popular (more settlers) and the trading products will go the the mother country
What colonists benefited the most from mercantilism?
The people who benefited the most in the colonies from mercantilism were cash crop growers, such as cotton, tobacco, and sugar farmers throughout the New World since they had a constant and massive market for their products. A secondary group that benefited indirectly from mercantilism were smugglers since their entire business sprung up as a way to circumvent the mercantilist restrictions on trade. Smuggling was very lucrative.
Why did the colonists dislike mercantilism?
because they were selling stuff they cost so much many :/
and the colony docent like it to because the country were selling stuff that they are of them .
Mercantilists stated that a country's wealth and strength came from the ability to?
A country's wealth and strength depended on the ability to balance its trade. According to the mercantilists, trade shoud be controlled by the government , a balance should be maintained so that a country would export more goods than import from other countries. A country should exploit national resources - from home or colonial territories. They considered gold -or bullion was considered as all-important in a balanced economy.
What measured wealth of nations during the mercantilism period?
The economic health or wealth of a nation can be measured by the amount of precious metal, gold, or silver, which it possessed.
Describe mercantilism and how did a country have power?
because they were gay people that loved erick, rafael, & george (;
Analyze how did the navigation acts support the system of mercantilism?
Uh I think it was because black people suck. That's the answer to everything
An interest in increasing exports
An interest in having a favorable trade balance
What is the main concept behind mercantilism?
.
- The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
- The practice, methods, or spirit of merchants; commercialism
mercantilism
The british system of mercantilism was designed to?
Mercantilism was designed to have strict control over its colonial trade so it can good economic strength
What was the most important principle of mercantilism?
The most important principle of mercantilism was to export more than you import when running a nation.
What were the strengths and weaknesses of Mercantilism?
weaknesses
power efficiency
who gains?
rational choice theory
rent-seeking behavior
examples
failure in Latin America; India; japan in 1990
