Are You a Mercantilist? Answer “yes” or “no” only 1.Money is the most important thing in life. 2.Your friend wants to buy your old bike. You try to sell.

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Presentation transcript:

Are You a Mercantilist? Answer “yes” or “no” only 1.Money is the most important thing in life. 2.Your friend wants to buy your old bike. You try to sell it to him for more than it’s worth to get an extra profit. 3.You find a wallet on the sidewalk. You keep the money for yourself without looking for the owner. 4.Your little sister (or friend, cousin, etc.) wants to earn money. They offer to clean your room for $ You bargain with them until they do it for $5.00 (your room is really messy.) 5.Mr. Crabbs from Spongebob Squarepants is your favorite cartoon character.

Your Score Give yourself 5 points for each “yes” Give yourself 2 points for each “no” Total your score You are ruthless in your pursuit of money and will think of ways to get it and keep it. You are a mercantilist! Money is important to you, but you can see the importance in other parts of life. Below 12 Congratulations! You are not consumed with greed!

Mercantilism The economic belief that colonies only exist to make $$ (profit) for the homeland

Mercantilism Vocabulary Trade: the exchange of goods and services from one place to another –Trade is also referred to as commerce which means transaction Imports: the trade good is brought into a country Exports: trade goods sent to markets outside a country Because exports help a country earn money, Mercantilists thought that a country should export MORE than it imports!

How did England make the most $ from the Colonies? Navigation Acts Purpose: England took EVERY opportunity to make money off the colonies!

How did England make the most $ from the Colonies? The Navigation Acts 1. New Ship Law: Anyone that wants to trade with the English Colonies must have a ship made either in England or in the Colonies…even if it means you have to buy a new one! 2. Check Point Law: All ships going to the Colonies to trade must stop at an English checkpoint to pay taxes!!! 3. Hot Sellers Law: All “hot sellers” (tobacco, wood, sugar) sold in the Colonies must only be sold to England! (The Enumerated Articles)

Mercantilism: The Positive and Negatives! The King and Parliament were making a profit People in England were getting jobs making ships/sailors Colonists were making a profit Colonists were getting skilled in shipbuilding/sailing The Colonies are getting many trade partners all over the world Colonies feel betrayed Colonies feel bossed around Colonies prices are higher Smuggling/bribery- illegal importing and exporting Piracy-stealing The PositivesThe Negative

What is the Big Picture for the Navigation Acts? What is happening between England and the Colonies? Colonies are becoming more independent socially, politically, and economically Because of the Triangular Trade, the colonies created trade relations with other countries Colonists realized they no longer needed England and unhappy that England had been taking advantage of them

Practice your mapping skills! The majority of land in North America had been claimed by …

WAR DEBT! Two Points of View King and Parliament Colonists  I Own you  I protected you with my Army/Navy  I make laws with Parliament  You must follow the law!  We made laws that stated you would pay for the war through taxes  Thanks for the protection but we fought too!  We agree we should HELP pay for the war BUT….  Laws are made by the King and Parliament  Colonists do not have representation in parliament….soooo we are not bound to follow its rules!

French and Indian War Reading 1.Read & Highlight –Highlight events Before, During, After the French & Indian War 2.Answer Multiple Choice comprehension questions 3.Complete Graphic Organizer 4.Hand completed worksheet to bin!