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Mercantilism and Colonial Economics:

Mercantilism and Colonial Economics:. Was it all bad? (Get out your clickers! Ch 48). Our Goals (SWBAT):. Describe/Define basic economic concepts Describe British Mercantilism Analyze/Evaluate Impact of Mercantilism on British Colonies in North America.

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Mercantilism and Colonial Economics:

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  1. Mercantilism and Colonial Economics: Was it all bad? (Get out your clickers! Ch 48)

  2. Our Goals (SWBAT): Describe/Define basic economic concepts Describe British Mercantilism Analyze/Evaluate Impact of Mercantilism on British Colonies in North America

  3. Clicker Discussion:I am afraid of economics?1 = YES2 = NO

  4. Key Terms: Import Export Trade Balance Trade Deficit (Surplus)

  5. What is Mercantilism? Theory of economic organization Way to organize a nation’s economy Goal: make Mother Country wealthy Today? Capitalism, Communism

  6. Basic Ideas of Mercantilism Establish colonies Control/regulate trade Export raw materials & resources from colony to Mother Country Export finished products from MC to colony Favorable Trade Balance for MC

  7. Basic Ideas of Mercantilism Navigation Acts (1650s and 1660s) Attempts by Britain to control trade Salutary Neglect Britain’s “hands off” approach helped colonies Until 1760s

  8. Clicker Discussion:Was Mercantilism GOOD for Colonies?1 = YES2 = NO

  9. Mercantilism: GOOD Guaranteed markets Protection from competition Especially helpful when colonies young to limit risk Raised prices for smugglers 

  10. Why was Mercantilism BAD for Colonies?

  11. Mercantilism: BAD Limited opportunities to trade Industrial development restricted Certain UK industries protected A bigger problem toward end of colonial period Colonies wealthier Colonial economies more diverse

  12. Mercantilism: BAD Economics seen as “Zero Sum Game” England $↑, Colonies $↓ Colonies have trade deficit Colonies lack species/money Certain Industries in England protected

  13. For over 150 years, colonists OK with mercantilism What went wrong?

  14. What went wrong? French & Indian War Grenville’s Policies Monopoly given to British East India Co. (Tea) Fear of more restrictions, taxes

  15. Clicker Discussion:Was Mercantilism GOOD for Colonies?1 = YES2 = NO

  16. DBQ/FRQ QuestionTo what extent was mercantilism bad for England’s colonies in America?

  17. How Did We Do?Our Goals (SWBAT): Describe/Define basic economic concepts Describe British Mercantilism Analyze/Evaluate Impact of Mercantilism on British Colonies in North America 1 -------------------------------5 Not so good Excellent!

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