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3 Cards in this Set
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- Back
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mercantilism
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Mercantilism is the economic doctrine that government control of foreign trade is important for ensuring the prosperity and military security of the state. In particular, it demands a positive balance of trade.
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balance of trade
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The balance of trade is the difference between the value of exports and imports in a country; the difference between what goods a country produces and how many goods it buys from abroad.
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Navigation Acts
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The English Navigation Acts were a series of laws that restricted the use of foreign shipping for trade between England and its colonies
1651--English trade should be carried in English vessels 1660 -- ships' crews had to be 3/4 English, and "enumerated" products not produced by the mother country, such as tobacco, cotton, and sugar were to be shipped from the colonies only to England. 1663 -- all European goods bound for America were to be shipped through England first to be inspected and taxed. |
