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Mercantilism 1L

Chapter 7-1.3

mercantilism a system of trade that says a country becomes wealthy and powerful by building up its supply of gold and silver
colony a land that is controlled by a more powerful country
mother country a country that claims and controls a weaker nation
import to buy or bring in goods from another country
favorable balance of trade when a country exports or sells more than it imports or buys
export to sell goods to another country
tariff a tax that is placed on products from another country
natural resources materials that are produced by nature; raw materials
Thirteen Colonies the American colonies owned by England that were located on the east coast of the United States
market a place where countries sell the products they manufacture
plantation a large farm where cash crops like coffee, tobacco, and sugar are grown
Created by: htmLIMS7*