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Colonial Mercantilism

Colonial Mercantilism. A step towards the American Revolution. Objective: Students will examine the economic policy of mercantilism in order to understand the impact on England and England’s colonies. Think about. Why did England, France, and Spain establish colonies in North America?

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Colonial Mercantilism

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  1. Colonial Mercantilism A step towards the American Revolution

  2. Objective: Students will examine the economic policy of mercantilism in order to understand the impact on England and England’s colonies.

  3. Think about Why did England, France, and Spain establish colonies in North America? What resources did these European Nations hope to find in North America?

  4. Part I: Mercantilism What is mercantilism? Beginning around 1650, the British pursued a policy of mercantilism in international trade.

  5. What type of products did England export? Manufactured goods Raw materials What type of products did England’s colonies export Manufactured goods Raw Materials What is Mercantilism?

  6. Mercantilism is a system of trade where colonies sold raw materials to England who used those resources to produce manufactured goods that were sold to colonies.

  7. What is Mercantilism? • Mercantilism is an economic theory that states a nation becomes stronger by keeping strict control over its trade. • It also states that a nation should have more exports than imports.

  8. TIMBER RESOURCES IRON FISH INDIGO RESOURCES COTTON RICE MERCANTILISM COLONIES $$$ MANUFACTURED GOODS ENGLAND

  9. Mercantilism • To achieve this balance of trade, the English passed laws exclusively benefitting the British economy. These laws created a trade system whereby Americans provided raw goods to Britain, and Britain used the raw goods to produce manufactured goods that were sold in European markets and back to the colonies.

  10. On your paper there is a chart with a set of characteristics that describe mercantilism between England and its colonies. For each characteristic, place a check in the box to indicate whether England or its colonies benefitted from mercantilism.

  11. 2 £ ( British Pounds) = $4 12 £ ( British Pounds) = $24 Who Benefits from Mercantilism? • For every $4 of timber the colonists sold to England, England manufactures were able to make a table that sold for $24. Under mercantilism, colonist had to buy their furniture from England because England always wanted to maintain a favorable balance of trade.

  12. Solve this Math • The colonies sell four bundles of timber to England. They make $_______ • English manufactures sell two tables to the colonies. They make $ ______ • In total England makes $______ • In total colonist make $ ______ • Who earned more from the sale of goods, England’s colonies or England? Explain. • Who benefits most from mercantilism? Explain

  13. How did mercantilism impact England and England’s colonies? Explain. • In your response you must include three of the words below: Import raw materials export manufactured goods

  14. Part II: Let’s examine the resources • Take a few moments and examine the resource map • Using information on the map complete “What Did They Have” chart and questions • Be prepared to share your chart

  15. What resources do the English colonies have?How can they use those resources?

  16. Trading is a means of obtaining natural resources and/or manufactured goods which are not readily available. • England’s colonies grew a system of trade developed between it’s colonies, England, Africa, and the West Indies • This trade became known as the Triangular Trade • The trade between England and its colonies would lead to economic interdependence. What does that mean?

  17. Economic Interdependence: • Depending on another for resources, goods, or services • The condition in which events in one part of a community, state, nation, or world or one sector of the economy affects events in another part or sector

  18. Triangular Trade • Trade routes that linked American colonies, West Indies, Africa, and England

  19. Triangular Trade • New England rum was shipped to Africa and traded for slaves, which were brought to the West Indies and traded for sugar and molasses, which went back to New England. • Other raw goods were shipped from the colonies to England, where they were swapped for a cargo of manufactured goods.

  20. Triangular Trade Routes • In order to learn more about the system of trade between the English colonies, England, Africa, and the West Indies you will label a trade map • Using the ? Label the Trade Map on your paper

  21. What natural resources or goods were the English colonies able to obtain? What natural resources or goods was England able to obtain? Based on triangular trade were England’s colonies, England, Africa, and the West Indies economically interdependent?

  22. How did triangular trade benefit England and its colonies in North America?

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