The Colonial Economy Questions and Answers

The Colonial Economy

Mercantilism was an economic theory that underscored the importance of exports and trade to increase a nation's wealth and global power. This philosophy motivated European countries to look at...

Latest answer posted October 30, 2020, 2:43 pm (UTC)

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The Colonial Economy

The Navigation Acts were a series of legislative decrees enacted by the British Parliament to protect their trade with members of the British Empire and other colonies. Under the order of King...

Latest answer posted March 30, 2019, 12:09 pm (UTC)

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The Colonial Economy

Mercantilism was the dominant economic paradigm of its era and a critical influence in shaping American colonization. Ultimately, mercantilist theory tended to view economics as a zero-sum game....

Latest answer posted January 19, 2020, 5:59 pm (UTC)

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The Colonial Economy

Primogeniture was primarily a means of stabilizing property ownership in colonial America. This was a very important concern at that time, not least because land had been acquired—more properly...

Latest answer posted June 9, 2019, 8:19 am (UTC)

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The Colonial Economy

During the 17th and 18th centuries, mercantilism was the prevailing philosophy of trade. The concept behind mercantilism is the control of raw materials, production, and finished goods. The...

Latest answer posted April 5, 2019, 12:01 pm (UTC)

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The Colonial Economy

The Navigation Acts had different impacts on trade in the colonies at different places and times. For much of colonial history, they did not have a great impact. However, this was largely because...

Latest answer posted August 21, 2015, 12:15 am (UTC)

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The Colonial Economy

According to mercantilist theory, colonies had one purpose: to generate revenue for the mother country. One way this could be accomplished was through extracting cheap raw materials from the...

Latest answer posted December 31, 2019, 7:40 pm (UTC)

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The Colonial Economy

The British established colonies in North America so that the British would benefit from having these colonies. The British got raw materials from the colonies and then sold the finished products...

Latest answer posted August 24, 2017, 12:52 pm (UTC)

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The Colonial Economy

Salutary neglect was the practice by which Parliament essentially left the colonies to their own self-government. Parliament still passed tax laws and navigation acts, but it did not exert any real...

Latest answer posted October 20, 2019, 6:31 pm (UTC)

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The Colonial Economy

The establishment of the colonies was only possible after England became a great power. England had defeated the Spanish Armada in 1588, and it was ready to establish colonies. England's initial...

Latest answer posted February 3, 2020, 6:39 pm (UTC)

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The Colonial Economy

First, a working definition of mercantilism: under mercantilism, a nation strives to export more than it imports and it hopes to hoard gold and silver as a result. In the case of the colonists...

Latest answer posted March 30, 2019, 12:37 pm (UTC)

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The Colonial Economy

Britain's unwritten and unofficial policy of relaxing trade regulations on its colonies, which became known as salutary neglect, did indeed have a positive effect on both sides of the Atlantic. In...

Latest answer posted March 17, 2019, 2:55 pm (UTC)

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The Colonial Economy

Compared to some of the other colonies of Great Britain, the thirteen colonies were not its most profitable at first. The West Indies, with their sugar plantations, were much more of a boon to the...

Latest answer posted April 21, 2019, 7:56 pm (UTC)

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The Colonial Economy

The colonists never really accepted the trade laws that Great Britain established. Going back to the beginning of the colonies when the British passed the Navigation Acts, the colonists found ways...

Latest answer posted January 20, 2016, 4:29 am (UTC)

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The Colonial Economy

The goal of mercantilism was to achieve prosperity through maximizing trade. And such trade should always result in a balance of payments surplus. In other words, trading nations should always...

Latest answer posted April 18, 2019, 11:32 am (UTC)

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The Colonial Economy

Mercantilism played a critical role in shaping the colonial economy—and perhaps even in shaping the entire history of colonization. Mercantilism's core assumption is that economics is a zero sum...

Latest answer posted October 8, 2019, 8:56 pm (UTC)

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The Colonial Economy

The goal of England’s mercantilist policy was to make the country richer. In those days, people believed that mercantilism was the best way to do this. In the 1600s and 1700s (and even into the...

Latest answer posted September 15, 2015, 2:07 am (UTC)

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The Colonial Economy

The Navigation Acts were primarily targeted at trade with the Spanish and the Dutch. Under the acts, American colonists had to use British ships to sell to them. Later acts would require that the...

Latest answer posted March 10, 2019, 5:53 pm (UTC)

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The Colonial Economy

The colonies managed to prosper while Britain's mercantilistic policies were in force, but did so in spite of the policy rather than because of it. They violated British policy with abandon and...

Latest answer posted September 7, 2011, 9:54 am (UTC)

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The Colonial Economy

On paper, Great Britain had imposed strict trading regulations on the American colonies. American goods were supposed to travel on British or authorized American ships and be sold only to Britain....

Latest answer posted March 21, 2019, 11:59 am (UTC)

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The Colonial Economy

There is some debate about how beneficial the Navigation Acts were for the colonies. A modern example is the American trade war with China. Depending on your view—restrictive free trade or...

Latest answer posted April 23, 2019, 12:04 pm (UTC)

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The Colonial Economy

The Navigations Acts were a series of legislative acts restricting colonists' trade with England, passed by British Parliament beginning in 1650. The Navigation Acts attempted to outline the...

Latest answer posted April 2, 2019, 12:47 pm (UTC)

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The Colonial Economy

The Navigation Acts refers to many different laws regarding trade with foreign merchants. These laws were made by the British to prevent trade by nearby countries and to promote exclusivity. The...

Latest answer posted September 19, 2016, 4:52 am (UTC)

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The Colonial Economy

Salutary neglect was the British enforcement policy of ignoring certain trade laws. This policy benefited the colonies by allowing a trade system to develop. The root cause of salutary neglect was...

Latest answer posted April 11, 2019, 12:52 pm (UTC)

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The Colonial Economy

Mercantilism is an economic policy between the colonies and the mother country. The system was based upon the accumulation of gold and silver, collecting natural or raw materials, denial of any...

Latest answer posted March 16, 2009, 7:47 am (UTC)

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The Colonial Economy

The colonists in general—and especially the prominent people in trade—generally were very much in support of the British policy of salutary neglect. Although the British officially had a strict...

Latest answer posted October 18, 2019, 5:09 pm (UTC)

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The Colonial Economy

Salutary neglect was an approach to policy that successive British governments adopted towards the American colonies up until the late 18th century. Essentially, it meant the government in London...

Latest answer posted March 30, 2019, 12:12 pm (UTC)

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The Colonial Economy

The Navigation Acts affected the American colonies both economically and politically. Scholars disagree as to how significant the economic impacts were, but they do not disagree about the...

Latest answer posted September 23, 2015, 5:31 am (UTC)

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The Colonial Economy

The Navigation Act of 1660 impacted the colonies negatively by forbidding the shipment of any goods on a non-English ship. Also, it forced the colonies to ship numerous goods, such as sugar, wool,...

Latest answer posted April 14, 2019, 12:42 pm (UTC)

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The Colonial Economy

Each region of the American colonies had its own form of economic specialization. This was due to the large geographical distances and differences in climate encompassed by the English settlements....

Latest answer posted June 4, 2019, 8:39 am (UTC)

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The Colonial Economy

Mercantilism is the name given to an economic policy designed to maximize a nation's exports. In the context of the American colonies, such a policy was pursued for the benefit of Great Britain....

Latest answer posted April 12, 2019, 12:15 pm (UTC)

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The Colonial Economy

The thing to keep in mind about mercantilism is that it represented an economic theory concerning the nature of trade, and the State's role and interest in controlling it. That being said, it...

Latest answer posted March 11, 2019, 2:02 pm (UTC)

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The Colonial Economy

When we say that the colonial economy and society were "maturing" we mean that they were becoming more like those of an established country and less like those of a colonial outpost. In both...

Latest answer posted October 5, 2011, 9:28 am (UTC)

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The Colonial Economy

This is a difficult multiple choice question. Answer choice (A) would have been legal under the Navigation Acts, as the 1660 version of the laws stipulated that a ship must be English (i.e....

Latest answer posted June 13, 2012, 8:37 pm (UTC)

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The Colonial Economy

Salutary neglect was, in many respects, shaped by practical realities, given the technological limitations of the time. With an entire ocean separating England and the colonies, in a time period...

Latest answer posted April 3, 2019, 12:15 pm (UTC)

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The Colonial Economy

During this era, the economies of the different regions of the colonies were at least somewhat different from one another. There were, of course, similarities. All of the colonies had agriculture...

Latest answer posted September 12, 2012, 6:47 pm (UTC)

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The Colonial Economy

Salutary neglect was replaced with imperial regulation. Salutary neglect was the British policy toward the American colonies that looked the other way when the colonists did not obey British trade...

Latest answer posted April 3, 2019, 1:00 pm (UTC)

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The Colonial Economy

The role of the businessperson in colonial America helped shape the young economy of the future country. Upon colonizing America, settlers found land with vast resources that could ultimately be...

Latest answer posted March 7, 2019, 12:42 pm (UTC)

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The Colonial Economy

The Navigation Acts, developed throughout the seventeenth and eighteenth centuries, sought to maintain control over trade within the British Empire. Specifically, revisions made in 1760 pivoted the...

Latest answer posted February 7, 2019, 6:42 pm (UTC)

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The Colonial Economy

Mercantilism was based on the idea that a country’s strength was based on trade, acquiring colonies, and accumulation of wealth, of which there was a fixed amount. Following this belief,...

Latest answer posted April 5, 2019, 11:59 am (UTC)

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The Colonial Economy

In the seventeenth century, the New Netherlands, headquartered in present day New York, dominated most of the central Atlantic coast of North America, extending from New York through New Jersey,...

Latest answer posted April 2, 2019, 12:38 pm (UTC)

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The Colonial Economy

Mercantilism was the economic theory, dominant in the seventeenth and early eighteenth centuries, that a nation's power was based upon the amount of wealth it could accumulate. This principle led...

Latest answer posted April 26, 2019, 1:04 pm (UTC)

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