American Studies

Front 1

Import

Back 1

Product that is brought into a country to be sold

Front 2

Export

Back 2

Product that is taken of of a country to be sold.

Front 3

Mercantilism

Back 3

A. Econmic Idea
B. Richest nation=strongest
C. Keep money in own hands
D. Found colonies to provide things(money) for mama. "England"
E. Colonist buy finished goods that mama made from their raw.
F. Colonies exist to make mam rich and stong

Front 4

Rules Mama makes...1st

Back 4

Tariffs: Takes on foreign imports that the parliament passes.
Purpose: Make foreign good more expensive and comvince colonist to buy Eng. goods.

Front 5

Favorable Balance of Trade

Back 5

Where a nation has more money coming in than going out.
Must sell more than buy!

Front 6

Rules Mama makes...3rd

Back 6

Prevent colonies from producing finished goods that Eng. was already making.
1.Wool act of 1699
2.Hat act of 1732
3.Iron act of 1750

Front 7

3 Navigation Acts

Back 7

1. Goods traveling between England and its colonies had to go on English ships.
2. All foreign imports to col./ brought to England 1st/
3. Put certain items on a list that could on be sold in England.
* goods that Eng. cannot produce.

Front 8

Rules Mama makes...2nd

Back 8

Navigation Acts- laws that parliament passes to control what colonies could buy

Front 9

Problem of Mercantilism

Back 9

Colonist are ALWAYS short on cash since they are expected to sell cheap goods and buy exp. fin. items!

Front 10

3 ways colonist get $

Back 10

bought on credit and went into debt.
Smuggling (illegal) and Triangular Trade(legal)
Mama england didnt enforce mercantile rules strictly.