classical international trade theories are from the perspective of a country. True; Easy 2. Trade surplus refers to a situation where the value of imports is greater than the value of exports. False; Easy 3. The economic theory of mercantilism stated that a country’s wealth was determined by the amount of its gold and silver holdings. True; Easy 4. Trade deficit refers to a situation where the value of exports is greater than the value of imports. False; Easy 5. The modern
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was a reflection of the political‚ economic and socio-religious developments of Spain. During the 16th and the 17th century almost all European monarchs adopted the political idea of absolutism as well as the economic system of mercantilism. Under the system of mercantilism‚ the king was involved in extensive intervention of any economic life to foster national growth. The Spanish government was highly centralized in form. All the Spanish governmental powers were all undertaken by this council; executive
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Both the British and Spanish empires strived to expand their empires in the Americas. They also both have comparable and contrasting political‚ economic‚ and social systems. Overall‚ each empire had different results from their colonial rule. The British and Spanish started their colonies at different time periods and had different political goals in mind. Britain’s thirteen colonies lasted from 1607-1783 before independence. British colonists traveled to the Americas and found land and wildlife
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The phrase‚ “Gold‚ God‚ and Glory” are a representation of the three reasons that European powers had to expand their colonial empires. Gold represents the vast wealth in literal gold and silver that was believed to be in Africa and the New World‚ and it also represents the vast wealth made selling highly coveted spices from Asia back in Europe. God represents the conversion of people outside Europe to Christianity along with the continuation of the crusades. Glory represents the prestige and power
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Europe: decentralized; non-Europe: centralized Rise of capitalism Different periods of colonization Caribbean/Americas – 1550s > India and rest of Asia – 1750 > Africa – 1884 (Berlin Conference) The emergence of mercantilism (= commercialism - 李嘉誠主義) (“buy cheap‚ sell dear”) Break from mercantilism - rise of industrial capitalism >1760 Defining capitalism… system of social relations that harnesses (吊帶lol from google translate) the creativity and productive forces of society primarily for private gain
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Europe and the West were a constant age of new discoveries and pioneering. During 16th century‚ the main forces of the economy in Europe were merchants and‚ the new Italian business‚ banking. People like the Medici’s and others across Europe contributed to the newly growing capital. For a long time‚ the Roman Church controlled western Europe‚ and established feudalism to have control over their people instead of independent countries having their own governments. This political force moved away from
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most popular drink in the colonies. Function: the Molasses Act made the colonists furious. Consequence: smuggling became so widespread that tax revenues dropped Magna Carta (1215) First document to limit King’s power Mercantilism The economic policy of mercantilism held that a nation’s power was
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inflation. Some types of international trade theories are International Product Life-Cycle Theory‚ Mercantilism‚ and Absolute Advantage. International Product Life-Cycle Theory is the theory that shows how a country ’s export can become its import through different stages. Those different stages are New Product stage‚ Maturing Product stage and Standardized Product stage. The next theory is the Mercantilism‚ which is the theory that believes that a government can improve economic well being of the country
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why not give colonists one. They are part of the English empire and should be treated as so. This was not a major cause for the rebellion but it was one little thing‚ and enough little things can be a huge problem also. That leads into mercantilism. Mercantilism is when a country thinks that the well being of the country is more important than the individual. England never really cared about the colonists they just wanted to keep getting bullion‚ and exploiting the colonists. The king didn’t understand
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a mother spanking her child when he is trying to obey and please her. Therefore I am not sorry to inform you that I am in favor of this revolution‚ dear sister. If you lived here with John‚ little Timmy‚ and myself‚ you would see that with the Mercantilism Policy‚ the Battle of Bunker Hill‚ and the Townsend Act that living is nearly impossible because of the taxes and battles. Please forgive me sister but you must find a way to understand. Perhaps my true explanations from here on the actual ground
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