Question 1

What is mercantilism?

Accepted Answer

the theory a nation's power depends on wealth

Answer

the theory a nation's power depends solely on the number of colonies

Answer

the theory a nation needs to develop a capitalist nation

Answer

the theory a nation doesn't need wealth to be powerful

Question 2

What is the balance of trade

Accepted Answer

the difference between what is imported and exported

Answer

raw materials

Answer

the difference between exports and gold

Answer

the difference between imports and goods

Question 3

A powerful nation believed it needed____________________________ to have a successful balance of trade.

Accepted Answer

more exports than imports

Answer

more imports than exports

Answer

equal imports and exports

Answer

an increase in raw materials

Question 4

What is a surplus?

Accepted Answer

When there is a lot or some of a product (goods) left over or unsold

Answer

when products are taken off the shelf

Answer

when all products or goods have been sold

Answer

when some products have been sold and show a chance to rise in selling

Question 5

What are exports?

Accepted Answer

Goods a nation sells to another country

Answer

the difference between imports and exports

Answer

goods to sell

Answer

Goods a nation buys from another country

Question 6

What are goods?

Accepted Answer

products or items for sell

Answer

items imported only

Answer

wood

Answer

raw materials

Question 7

What is the importance of Africa in mercantilism?

Accepted Answer

Africa provided gold, other goods, and slaves

Answer

Africa provided many goods

Answer

Africa gave up the Suez Canal

Answer

Africa offered spices

Question 8

What is the middle passage?

Accepted Answer

The forced journey of enslaved Africans from Africa to the Americas

Answer

the opportunity to work for money in the Americas

Answer

imports to Europe

Answer

the journey for an indentured servant to work for seven years before being free

Question 9

What are tariffs?

Accepted Answer

A tax placed on goods

Answer

A free market

Answer

When a price is lowered

Answer

When the price of a good  stays the same

Question 10

What is favorable balance of trade?

Accepted Answer

When the mother nation places tariffs on imports from other nations, son the colonies will buy only from the mother country.

Answer

When other European nations place tariffs on colonies that don't belong to them

Answer

When the colonial nations place tariffs on the mother nations

Answer

When African nations place tariffs on European nations

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