Terms in this set (6)
What is Mercantilism?
Mercantilism is a system based on the benefits of profitable trading. Countries made trade policies that favored money going from the colonies to the mother country.
How did goods move in Mercantilism?
Mercantilism moved goods which were abundant in one location to another place where the goods were scarce.
What was the purpose of American Colonies in relation to mercantilism?
The purpose of the American colonies was to supply raw materials and serve as a market for the finished goods that had been made in England.
What was the main purpose of mercantilism?
Mercantilism stated that colonies had one main purpose: to enrich the mother country.
What was the triangular trade?
The idea was that different regions would trade goods that they had a lot of for goods which were rare in their own region. It was referring to trade routes across the Atlantic.
What were the Navigation Acts?
These stated that Colonial exports had to be transported in English ships and that all Colonial imports had to first pass through English ports. Good from American colonies were subject to heavy duties when shipped to England.
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