Ch. 03- Colonial North America, 1690-1754 Flashcards
During the 16th and 17th centuries British North America continued to expand, developing its own economy and political institutions. This deck covers the early period of the American colonies.
1
Q
Mercantilism
A
Mercantilism is an economic theory which posits that because the world’s wealth is limited, trade is a “zero-sum” game, i.e. that the balance of trade in one nation’s favor is another nation’s loss.
