Complete Vocab and Journal before notes on Mercantilism.

Vocabulary Word: MONOPOLY

My Definition:

 Mnemonics: (How will I remember this word?)

   

Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 

Picture Song Sentence RhymeSynonym Other

Vocabulary Word: raw material

My Definition:

 Mnemonics: (How will I remember this word?)

   

Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 

Picture Song Sentence RhymeSynonym Other

Vocabulary Word: finished product/ manufactured good

My Definition:

 Mnemonics: (How will I remember this word?)

   

Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 

Picture Song Sentence RhymeSynonym Other

Vocabulary Word: discontent

My Definition:

 Mnemonics: (How will I remember this word?)

   

Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 

Picture Song Sentence RhymeSynonym Other

Vocabulary Word: enslaved

My Definition:

 Mnemonics: (How will I remember this word?)

   

Category: Economic. Social. Political. Geographic. How well do I understand this word? -- ____________________________________+ 1 2 3 4 

Picture Song Sentence RhymeSynonym Other

Journal

1. How much do you pay for a soda/candy at the movie theater? How much do you pay for the same soda/candy at the store?

2. Is there a difference in quality/quantity? 3. How do you feel about the price difference? 4. Why is the movie theater able to set such

high prices?

Mercantilism

Definition of Mercantilism

• Mercantilism is a belief that the colonies exist to benefit the parent country

England

France

America

Sell raw materials:Ex: tobacco farmer sells tobacco for $3.00/barrel to England$5.00/barrel to France

Buy finished products:Ex: tobacco farmer needs iron tools $10.00/set from England$5.00/set from France

How does mercantilism work?

• In the system of mercantilism, the colony sells raw materials to the mother country and the mother country sells manufactured goods to the colony…..

Navigation acts passed by Parliament

1. Colonist may ONLY sell raw materials to England2. Colonists may only BUY finished products from

England3. Colonists may ONLY use English Ships (or Colonial

Ships) to transport goods. 4. Colonists may not produce finished products in

competition with English finished products.

England

France

America

Sell raw materials:Ex: tobacco farmer sells tobacco for $3.00/barrel to England

Buy finished products:Ex: tobacco farmer needs iron tools $10.00/set from England

Reaction/Results of Mercantilism and the Navigation Acts (laws)

1. Colonists felt resentful of Parliament for enacting laws to support mercantilism

2. ENGLAND benefits from a favorable balance of trade AND taxing English merchant profits

3. Colonists routinely engage in smuggling4. Triangular trade routes developed for colonists to

make enough money to buy English finished products

Talking HeadsIn your group you will express the thoughts and feelings of three distinct groups:

A. New England ShipbuilderB. Southern Tobacco Farmer

C. English Merchant

You will create a three way conversation amongst this group discussing each persons feelings (and why they felt that way) about the English policy of Mercantilism.