SETTLING NORTH AMERICA 1497 1732
THE SOUTHERN COLONIES SETTLEMENT AND GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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England gathered raw materials and shipped them back to England helping trade companies get rich
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English factories was turn those raw materials into expensive finished products to sell back to the colonists
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England placed a tax on all items to help increase profits and revenue
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England began minting money to make sure everybody paid for supplies with the same form of currency
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Detailed explanation-1: -Under mercantilism, colonies were important because they produced raw materials for the mother country, goods that the country would have to import otherwise (things like grain, sugar, or tobacco). The colonies also gave the mother country an outlet for exports, which increased jobs and industrial development at home.
Detailed explanation-2: -Mercantilism was a form of economic nationalism that sought to increase the prosperity and power of a nation through restrictive trade practices. Its goal was to increase the supply of a state’s gold and silver with exports rather than to deplete it through imports. It also sought to support domestic employment.
Detailed explanation-3: -Under this system, governments wanted to control and regulate trade in the new lands.
Detailed explanation-4: -The country enjoyed the greatest benefits of mercantilism between 1640 and 1660 when the prevailing economic wisdom suggested that the empire’s colonies could supply raw materials and resources to the mother country and subsequently be used as export markets for the finished products.