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- 1. Multiple ChoiceMercantilism can best be described as what?the idea that a colony should be self sufficient and able to provide for itselfthe idea that a nation needs to strongly equip its colonies to defend itself in case of foreign attackthe idea that the religion of a colony should differ from the religion of the mother countrythe idea that a nation�s power is related to its wealth and needs a favorable balance of trade with its colonies
- 2. Multiple ChoiceThe joint-stock company, introduced during the Commercial Revolution, would most resemble what?private enterprisepartnershipcorporationmonopoly
- 3. Multiple ChoiceColonization supported the European economic policy of mercantilism by providing what?a way to get rid of excess silver and golda place to store raw materials for future usefinished products to sell in Europea market for selling goods
- 4. Multiple ChoiceThe business endeavors in the English colonies in America led to the emergence of an economic system where most of the production was privately owned. What is the system called?socialismcommunismmercantilismcapitalism
- 5. Multiple Choice
What is capitalism?government control of production and goodsprivate control of production and goods for profitemployee control of production, goods, and profitinternational control of production and goods for profit - 6. Multiple ChoiceWhat helped the middle class to grow?Guild memberships increased.Peasants made more money.More people started businesses.The nobles sold land to peasants.
- 7. Multiple ChoiceUnder which economic system would American entrepreneurs and investors most likely be found?mercantilismcapitalismcommunismfeudalism
- 8. Multiple ChoiceWhat does the policy of mercantilism, which was adopted by the European powers in the 16th and 17th centuries, mean?monarch�s power is dependent on his wealth as it allows for him to pay his subjects for support.A country�s power is dependent on its wealth as it allows for nations to build strong militaries and purchase vital goods.A monarch�s power is dependent on his wealth as it allows for a monarch to build a strong military and purchase vital goods.A country�s power is dependent on the military as it allows for effective wars to be waged.
- 9. Multiple ChoiceWhich of the following was NOT a principle of mercantilism?Export more than you import.Import more than you export.Settle as many colonies as possibleGain as much gold and silver as possible.
- 10. Multiple Choice�Colony� refers to:An increase in population for a countryAn expedition sent to explore a foreign landA settlement in a distant land whose citizens keep close ties to their parent country.A group of individuals who unite for a common cause.
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