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Mercantilism Flashcards | StudBud
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Mercantilism
Mercantilism
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7.3 and 7.4 7th Grade Social Studies
Flashcards
19 cards
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Questions
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Answers
1
________________ is the buying and selling of goods in mass amounts over long distances.
Tariff
Commerce
Capitalism
Entrepreneur
2
Goods that a
re brought from outside the country.
Money
Imports
Gold
Exports
3
Taxes on foreign goods, designed to protect the domestic market
commerces
tariffs
imports
exports
4
An economic theory that states that a nation becomes wealthy by building up bullion.
Mercantilism
Capitalism
Communism
Feudalism
5
The profits made from trade created a new social class known as the _______________________.
Upper Class
Middle Class
Lower Class
Ruling Class
6
_______________
is how much of something is desired by consumers
Entrepeneur
Supply
Capital
Demand
7
Which of the following would have belonged to this new social class?
a merchant
a dockworker in a port city
a slave
a king
8
Capitalism is a system in which ____own(s) property and make goods and buy and sell them freely
The Muppets
the Government
the Government and the People
the People
9
_______________
is someone who takes risk to make profit
Capital
Demand
Entrepeneur
Supply
10
The exchange of goods, people, ideas & diseases across the Atlantic was called
Capitalism Exchange
Magellan Fair
Mercantilism Trade
Columbian Exchange
11
The freedom of private businesses to compete for profits without government involvement.
socialism
free enterprise
colonization
communism
12
What is bullion?
Gold
Money
Exports
Imports
13
__________________ is the money that can be invested in business.
capital
free enterprise
tariff
commerce
14
In mercantilism, countries built colonies to provide ? so that the country didn't have buy them
people
raw materials
machines
manufactured goods
15
Goods that are sold out of a country.
Imports
Gold
Money
Exports
16
Which describes a favorable balance of trade?
A country that imports more than it exports
A country that has the most natural resources
A country that steals the most gold
A country that exports more than it imports
17
_______________
is how much of something is available.
Supply
Entrepeneur
Capital
Demand
18
Capitalism would have never gotten started without thegrowth of this group of people.
the wealthy
the government
the middle class
the poor
19
A group of people to sell goods to for the mother countries is called
export
market
raw material
import
