1. Jump Start- Wednesday 8/31 Fill in the blanks

2. Teacher 1 2 4 5 8
WHITE
BURDETT
EDEN X
DAVIS
THOMPSON
RUSSELL
MASSEY
NORRIS
TRIBBLE
YARBROUGH
FOUNTAIN
JONES
BROWN
MCDONALD

3. Mercantilism Main Idea New Economic Policy Intense Competition
Countries tried to gain wealth by controlling trade and establishing colonies.
Nation’s strength depended on its wealth
Wealthy nation had power for military and expanded influence
New Economic Policy
Intense Competition
Wealth measured by amount of gold, silver possessed by nation
For one nation to become more powerful it had to take wealth away from another nation
Led to intense competition

4. Imports Exports Mercantilists wealth two ways:
Balance of Trade
Mercantilists wealth two ways:
Get gold and silver from mines at home and in colonies
Sell more goods than it bought (export more than it imported)
Reduced the amount of imports by placing tariffs on goods
Tariff = tax
Importer paid tariff, added cost to price of good
Imported goods became more expensive, discouraged people from buying
Imports
Encourage exports that could sell for higher prices than raw materials
Countries encouraged manufacturing and export of manufactured goods
Governments provided loans to help start new businesses
Exports

5. Building colonies was essential to mercantilism
European powers wanted to establish colonies
To control sources of raw materials
To provide new markets for manufactured goods
Colonies existed only to benefit home country
Colonies
Monarchs restricted economic activities in colonies
Colonists could not sell raw materials to other countries
Could not buy manufactured goods from other nations
Strict laws forbade colonies from manufacturing goods
Forced to buy only from home country
Strict Laws in Colonies