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- 1. Multiple Choice
This is a tax on goods brought into a country...
Mercantilism
Feudalism
Tariff
Market
- 2. Multiple Choice
Who controls and regulates trade in a mercantilist economy?
The government
Tax payers
Individuals
Voters
- 3. Multiple Choice
What group of people benefited from the introduction of international trade?
Nobles
Kings
Europeans
Merchants
- 4. Multiple Choice
What is one role colonies play in a mercantilist system?
Colonies purchase raw materials from other countries.
Colonies manufacture finished products for the mother country.
Colonies sell raw materials to other countries.
Colonies purchase finished products from the mother country.
- 5. Multiple Choice
What was the goal of mercantilism?
To control trade and gain wealth
Make colonies wealthy
Import many goods from other nations
Share wealth with other nations
- 6. Multiple Choice
Which response BEST represents feudalism?
Exports have greater value than imports
Land ownership for protection
Building up bullion for homeland
Government regulates trade
- 7. Multiple Choice
Definition: When the value of what a country exports is more than the cost of imports
Capitalism
Bullion
Favorable balance of trade
Economics
- 8. Multiple Choice
Definition: Natural resources that are not yet made into anything such as cut trees or coal that has been mined
Natural Resources
Raw Materials
Exports
Imports
- 9. Multiple Choice
What economic principle is illustrated in the image below?
Captialism
Feudalism
Socialism
Mercantilism
- 10. Multiple Choice
What is NOT the goal of the mother country in a mercantilist economy?
Import many goods from other countries.
Establish colonies to gain raw materials.
Create a favorable balance of trade.
Gain as much gold and silver as possible.
- 11. Multiple Choice
What is a bullion?
Nickels and dimes
A ship
Gold and silver
markets
- 12. Multiple Choice
What were European economies based on before the 15th century?
Feudalism
Farmers
Capitalism
Mercantilism
- 13. Multiple Choice
Why were colonists only allowed to trade with their mother country?
The colonists did not know other countries existed
The mother country can gain more wealth
The colonists were prideful
The mother country can share their wealth
- 14. Multiple Choice
Why did Spain, Portugal, England, and the Netherlands have greater economic opportunities than other European countries?
They were better than everyone else
They were the only countries at this time
They were powerful
Prior wealth and Oceanfront location
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