social trends. I. Intro II. Economically‚ the old regime was marked by a scarcity of food‚ agrarian economy‚ slow transport‚ little iron production‚ unsophisticated finances‚ and sometimes commercial overseas empire. (And mercantilism) Mercantilism and the Atlantic Economy A. European maritime exapansion in the 18th century 1. COLONIES a. raw material b. Gold and silver extracted from the rich minds in Peru and MesoAmeic and Spanish Empire 2. World trade became
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to the islands of the Caribbean. At that time‚ sugar was practically unknown to most people in Europe. However‚ it became so popular later in Europe. There are 3 factors that drove the sugar trade; the demand of sugar‚ the plantations‚ and the mercantilism The high demand of sugar was one of the biggest reasons that drove the sugar trade. The sugar became so popular when it arrived Europe‚ the picture in document 3 that made by E. T‚ Parris‚ shows that how much people loved sugar‚ people were actually
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measured as the percent rate of increase in real gross domestic product‚ or real GDP Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular‚ it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries. Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion
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Valeria Delgado AP US History 5th Period Many elements influenced the American rebellion that lead to the American Revolution‚ specifically taxation‚ mercantilism and the First and Second Continental Congress. Mercantilism is an economic theory which argues that a nation must strive to attain a favorable balance of trade so that the country will accumulate gold and silver‚ which made the country wealthier and safer. In the Navigation Acts raw materials were taken from America and sent to the
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1. Raymond Vernon argued that new products were developed by U.S. firms and first sold in the U.S. market because c. The wealth and size of the U.S market gave the firms an incentive to develop new products 2. This theory‚ initially proposed by Raymond Vernon‚ was based on the observation that for most of the 20th century a very large proportion of the world’s new products had been developed by U.S. firms and sold first in the U.S. market. a. Product life cycle 3. China‚ deliberately keeping
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A series of events and conditions existed in the Old World at the dawn of the fifteenth century that made New World exploration not only possible but also desirable. Identify these events and conditions‚ and explain how each helped set the stage for exploration. During the fifteenth century different factors contributed to the discovery of the New World. Commerce‚ technological-factors‚ rise of Nation-States and exchanges were key factors that made New World exploration desirable. Europe under
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then flowing up to the lives of authority to the top‚ or peak of the structure‚ the King himself the only person the King was responsible to answer to‚ under feudalism‚ was the Pope Feudalism There were five underlying principles of mercantilism: the amount of wealth in the world was believed to be relatively static countries wealth was judged best by the amount of its precious metals and/or bullion as a way too obtain favorable balances of foreign trade that yielded precious
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Central America‚ the Caribbean islands‚ and Mexico to increase their wealth and power. The native people resisted colonization by trying to fight back. 2. How did the Chesapeake colonies support the aims of British mercantilism? The Chesapeake colonies supported British mercantilism with their tobacco crops and the Bay’s rich fisheries. These served as highly valuable to Britain. 3. Why did slavery replace servitude as the dominant labor system in Virginia and Maryland? Through most of the
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Objectives After mastering this chapter‚ you should be able to: [ 1 ]. Explain the ideas of republicanism and radical Whiggery that Britain’s American colonists had adopted by the eighteenth century. [ 2 ]. Describe the theory and practice of mercantilism‚ and explain why Americans resented it. [ 3 ]. Explain why Britain adopted policies of tighter political control and higher taxation of Americans after 1763 and how these policies sparked fierce colonial resentment. [ 4 ]. Describe the first
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monarchy‚ which was a based on the belief that monarchs receive their power from God and are therefore responsible to no one except God. Louis’ goal was “one king‚ one law‚ one faith‚” which he accomplished by controlling the nobility‚ adhering to mercantilism‚ and using religion as a tool for national unity. By constructing the court at Versailles‚ Louis created a personal household‚ the location of a central government‚ and the place where subjects came to find favours and offices. This helped control
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