Mercantilism Simplified Raw Materials Unprocessed natural product unfinished

Mercantilism Simplified

Raw Materials Unprocessed natural product, unfinished goods, used to make finished product Manufactured Goods To make or process goods, final, finished product

Import To bring into the country Export To send out of the country

What is economic interdependence? Dependence on others, for the products they cannot produce themselves

Why did the colonies and England need each other? England needed raw materials in their factories, to make finished manufactured goods The Colonies needed manufactured goods

Mercantilism-Quick Review What type of goods did England’s colonies export What type of goods did England export? Raw Materials Manufactured Goods

Mercantilism-Quick Review Mercantilism is a system of Trade Colonies sold England ____ Raw Materials where to who used those resources to produce Manufactured Goods that were sold to the colonies.

Characteristics of Mercantilism Who Benefited? England English Colonies Colonists were not permitted to make most of the finished products made in England Products such as tobacco and wood could only be sold to England Colonists could only use English ships to trade their goods Colonial Ships were protected by the English navy. Colonists were assured a ready market for their goods Good traded between Europe and the colonies had to pass through England to be taxed