Mercantilism Flashcards
1
Q
Define mercantilism.
A
Money is power. Wealth from gold and silver (bullion) in the treasury. Countries had to export more goods than imported.
2
Q
Colonial role in mercantilism?
A
The guaranteed market for exports from the mother country and raw materials.
3
Q
Advantages of mercantilism for colonists?
A
VA tobacco growers got a monopoly. Bounties on ship parts. Protection of the British navy.
4
Q
Disadvantages of mercantilism for colonists?
A
Currency shortage. Stifled economy. Navigation laws.
