MERCANTILISM MARCH 24 2017 MERCANTILISM BELLWORK Is it

MERCANTILISM MARCH 24, 2017

MERCANTILISM BELLWORK Is it ok to take over another country in order to use their resources? Write a 2 -3 sentence response to the question

MERCANTILISM SOH • Standard 7. 63 – Explain the origins of modern capitalism, the influence of mercantilism, and the cottage industry; the elements and importance of a market economy in 17 th century Europe; the changing international trading and marketing patterns; including their locations on a world map; and the influence of explorers and mapmakers. • Objective – I can explain how mercantilism influenced Europe • Homework – Study Guide #’s 20 -21

NOTES • Read the following sections and take notes using a graphic organizer of your choice. • “What is Mercantilism? ” (pgs. 336 -37) • “What is a Cottage Industry? ” (pg. 338) • Questions: 1. What does a successful mercantile economy depend upon? 2. How do colonies help promote mercantilism? 3. How does mercantilism benefit the homeland more than the colony? 4. How was the term cottage industry coined?

RULES OF MERCANTILISM • Place the following Rules of Mercantilism in the correct order. At first write the number only. Once you have the correct order, then write out the rules. • 1. Keep more gold and silver • 2. Colonies provide raw materials that are not found in home country • 3. Export more goods than you import. • 4. Power comes from having gold and silver. • 5. Set up colonies.

EXIT TICKET 1. The diagram to the right best demonstrates which economic theory? A. B. C. D. Socialism Capitalism Mercantilism Communism 2. America would be an example of which part of the diagram to the right? A. Mother Country B. Colonies