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7-1.3

Mercantilism

QuestionAnswer
Mercantilism Economic system used to build a nation's wealth.
Raw materials and resources Provided by colonies...ex. tree used to make table
Colony Settlement, or land claimed by SPEFN
Mother country SPEFN, or nations that explored and claimed new lands
Favorable balance of trade More exports than imports...used to create wealth
Exports Goods sold to foreign countries
Imports Goods bought from foreign countries
Bullion Gold and silver
Tariff Tax put on goods bought from foreign countries
Created by: ss class
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