Why is trade a good thing?. Bob and Joe on a desert island

Why is trade a good thing?

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Bob and Joe on a desert island

"Let us think of education as the means of developing our greatest abilities, because in each of us there is a private hope and dream which, fulfilled, can be translated into benefit for everyone and greater strength for our nation." - John F. Kennedy

Something to Think About…

SWBAT explain Mercantilism

To Meet Big Goals…

The Mother country (England) controls trade in order to export more than it imports

Mother country gains more money

SC source of raw materials and a market for manufactured good

Lessened England’s dependency on foreign trade

Mercantilism

England offered subsidies for indigo

Rice and indigo could only be sold to England (but did not enforce this for rice)

SC had a wider market for rice—thus raising the price

SC planters had a secure market for these cash crops

Controlling the Trade

We are going through a worksheet on mercantilism.

Follow along as we read the worksheet aloud. Answer the questions on your worksheet.

Guided Practice

With a partner. Complete the critical Thinking Synthesis (question #3)

Raise your hand if you have any questions

Independent Practice

What is Mercantilism?Who benefited from this economic Policy?

DO NOW

Mercantilism encouraged people to trade both at home and internationally

This led to many people (not slaves of course) to become wealthier.

Mercantilism Cont.

Capitalism is an economic policy where the economy (or how people buy and sell things) is individually controlled (the way it is today)

Capitalism

Having individuals in control of what they buy and sell led to an increase in the “middle class”.

Capitalism cont.

Mercantilism?

The Economic Policy to grow a nations wealth

Test Review

How did nations measure their wealth?

Nations measured their wealth through the possession of Gold and Silver

In mercantilism, what do rulers try and prevent:

Rulers try and prevent Imports.

In Mercantilism, Rulers try to increase:

In Mercantilism, Rulers try to increase exports

Europe to africa?

Europeans brought weapons, manufactured goods and trade Items to africa

Africa to the American colonies:

Europeans transported slaves from Africa to the American Colonies

American Colonies to Europe?

The Europeans transported raw goods (such as cotton, rice and tobacco) to Europe

Workers?

Slaves, Indentured servants and Native Americans worked on the Colonial Plantations

Capitalism?

The Economic Policy in which private (not government) controls the market.

Middle Class?

The middle class, is a economic class which benefited from Mercantilism and Capitalism.