THE AMERICAN REVOLUTION 1775 1783
AMERICAN REVOLUTION SOCIAL AND ECONOMIC IMPACT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Great Britain receives raw materials from the Colonies in exchange for charging high prices to the colonies for manufactured goods.
|
|
|
Colonies received raw material from Britain in exchange for their loyalty to the Crown
|
|
|
Britain received manufactured good from the colonies in exchange for guns
|
|
|
Native Americans exchanged fur with the French
|
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: -Which of the following statements BEST expresses the core beliefs of mercantilism? Nations should increase their wealth by increasing their exports and minimizing their imports. Which of the following does NOT describe the theory of absolute advantage? It allows for government intervention in international trade.
Detailed explanation-3: -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.
Detailed explanation-4: -Mercantilism was an economic theory that encouraged government regulation of the economy for the purpose of enhancing state power. The primary goal was to run trade surpluses and thereby fill the state’s coffers with silver and gold.