Complete Vocab and Journal before notes on Mercantilism.

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Presentation transcript:

Complete Vocab and Journal before notes on Mercantilism.

Vocabulary Word: MONOPOLY My Definition: Mnemonics: (How will I remember this word?) Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 Picture Song Sentence Rhyme Synonym Other

Vocabulary Word: raw material My Definition: Mnemonics: (How will I remember this word?) Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 Picture Song Sentence Rhyme Synonym Other

Vocabulary Word: finished product/ manufactured good My Definition: Mnemonics: (How will I remember this word?) Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 Picture Song Sentence Rhyme Synonym Other

Vocabulary Word: discontent My Definition: Mnemonics: (How will I remember this word?) Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 Picture Song Sentence Rhyme Synonym Other

Vocabulary Word: enslaved My Definition: Mnemonics: (How will I remember this word?) Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 Picture Song Sentence Rhyme Synonym Other

Journal How much do you pay for a soda/candy at the movie theater? How much do you pay for the same soda/candy at the store? Is there a difference in quality/quantity? How do you feel about the price difference? Why is the movie theater able to set such high prices?

Mercantilism

Definition of Mercantilism Mercantilism is a belief that the colonies exist to benefit the parent country

England France Sell raw materials: Ex: tobacco farmer sells tobacco for $3.00/barrel to England $5.00/barrel to France America

Buy finished products: Ex: tobacco farmer needs iron tools $10.00/set from England $5.00/set from France

How does mercantilism work? In the system of mercantilism, the colony sells raw materials to the mother country and the mother country sells manufactured goods to the colony…..

Navigation acts passed by Parliament Colonist may ONLY sell raw materials to England Colonists may only BUY finished products from England Colonists may ONLY use English Ships (or Colonial Ships) to transport goods. 4. Colonists may not produce finished products in competition with English finished products.

England France Sell raw materials: Ex: tobacco farmer sells tobacco for $3.00/barrel to England America

Buy finished products: Ex: tobacco farmer needs iron tools $10.00/set from England

Reaction/Results of Mercantilism and the Navigation Acts (laws) Colonists felt resentful of Parliament for enacting laws to support mercantilism ENGLAND benefits from a favorable balance of trade AND taxing English merchant profits Colonists routinely engage in smuggling Triangular trade routes developed for colonists to make enough money to buy English finished products

Talking Heads In your group you will express the thoughts and feelings of three distinct groups: New England Shipbuilder Southern Tobacco Farmer English Merchant You will create a three way conversation amongst this group discussing each persons feelings (and why they felt that way) about the English policy of Mercantilism.