Mercantilism and Triangular Trade Flashcards
(6 cards)
What is mercantilism?
A new economic system where a nation’s wealth depends on accumulating resources and maintaining a favorable balance of trade with more exports than imports.
Why did Europeans establish colonies in the Americas?
To exploit land and resources, acquire wealth, and use colonies to supply raw materials for the mother country.
What is the columbian exchange?
The massive exchange of goods, tech, ideas, and diseases between the Europeans and the Native Americans.
How did Europeans view Native Americans during colonization?
At first, they interacted with indigenous populations but later claimed land and resources for themselves.
What is the triangular trade?
A complex trade network between Europe, the Americas, and Africa, exchanging goods, enslaved people, and resources.
What is a favorable balance of trade in mercantilism?
When a country exports more than it imports, increasing the nation’s wealth through gold and silver reserves.
