Mercantilism and Capitalism (7-1.3/4)
Quiz by Christian Huggins
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14 questions
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- Q1What is the freedom of private businesses to compete for profits without government involvement?mercantilismcolonialismfree enterpriseempires30s
- Q2Which of the following is NOT an economic system?capitalismmercantilismcolonialismfuedalism30s
- Q3What is an entrepreneur?a member of the clergy who spreads Christianitya business person who risks money in hopes of making a profita wealthy noble who owes a debt to the kinga ship captain who sails caravels30s
- Q4Which group began to form the middle class during the 17th and 18th centuries?merchantspeasantsnoblespriests30s
- Q5Who took the risks of transporting goods between the colonies and Europe?puritansgovernmentsmerchantsslaves30s
- Q6In which type of economy do individual buyers and sellers interact in the marketplace to exchange goods and services?command economymercantilismmarket economyfuedalism30s
- Q7What is capitalism based upon?government ownership of resourcesprivate ownership of resourcesmonarch's ownership of resourcesno one's ownership of resources30s
- Q8What controls the prices in a market economy?supply and demandthe governmentthe marketraw materials30s
- Q9How did mercantilist nations decrease imports?by destroying all imported goodsby placing high tariffs on foreign goodsby creating propaganda about foreign-made goodsby imprisoning people who purchased imported goods30s
- Q10Who controls and regulates trade in a mercantilist economy?individualsthe votersthe governmentthe tax payer30s
- Q11What is one role colonies play in a mercantilist system?Colonies purchase raw materials from other countries.Colonies purchase finished products from the mother country.Colonies manufacture finished products for the mother country.Colonies sell raw materials to other countries.30s
- Q12Which of the following describes a favorable balance of trade?The mother country should export the same amount of goods as other countries.The mother country should import more than it exports.The mother country should import all of its resources from other nations.The mother country should export more than it imports.30s
- Q13What is the main goal of mercantilist nations?Gain as much gold and silver as possibleShare wealth with other nationsImport many goods from other nationsMake colonies wealthy30s
- Q14What is the production, consumption, and transfer of wealth in a country?economicsreligionsculturespolitics30s