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Name___________________________________________ 12/03/13

. . Name___________________________________________ 12/03/13

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Name___________________________________________ 12/03/13

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  1. . Name___________________________________________12/03/13 What words, phrases, ideas does the term, “Mercantilism” elicit [evoke/inspire?] In other words, what comes to mind when you see or hear of Mercantilism? Use the chart below to write/create all images that come to mind. Include all positive &/or negative aspects surrounding this economic theory. Mercantilism .

  2. A nation (mother country) creates colonies in the hopes gaining wealth. Colonies were created to “SERVE” the (motherland – Western European countries) A new economic system centered on trade/exploration = globalization (Using ships to travel around the world to acquire: land, bullion, resources & servants – wink, wink “SLAVES”) = wealth & power. Held that a country’s power depended mainly on its wealth = Bullion (gold, silver, etc) & different resources Fruits of the Renaissance & “Scientific Revolution” = advances in tech. made the voyages possible. A nation could increase wealth two ways: Favorable balance of trade = sell more (export) more than it bought (import). J. George 11/08/12 What words, phrases, ideas does the term, “Mercantilism” elicit [evoke/inspire?] In other words, what comes to mind when you see or hear of Mercantilism? Use the chart below to write/create all images that come to mind. Include all positive &/or negative aspects surrounding this economic theory. Mercantilism Went hand in hand with colonization. Europeans colonized new lands for wealth (bullion) & resources = Power/ strength for the motherland. “God [spread Christianity], glory [new adventures –away from the manor], and gold [bullion/wealth = national power]” were the primary motives for exploration. A nation’s (Western European nations) ultimate goal was to become rich self-sufficiently = creation of colonies.

  3. What is Mercantilism? Mercantilism: • a) Mercantilism is the idea that colonies exist only to make the Mother Country (Western European nations, i.e.- • Spain and Portugal) wealthy. • b) Spain and Portugal tightly controlled trade with their colonies in the Americas in order to make money. Europeans would take raw materials (like cotton) from their • American colonies and sell finished products (like clothing) back to the colonies.

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