Chapter 3 - Trade And Commerce

Question 1

What system was the trade and commerce of the Empire?

Answer 1

Mercantilism

Question 2

What is mercantilism?

Answer 2

A systems of regulations governing trade

Question 3

What were colonies obliged to do?

Answer 3

Send most of their produce
Buy British manufactured goods
Use British ships

Question 4

What economic system had been dismantled?

Answer 4

Protectionism

Question 5

What is protectionism?

Answer 5

Using tariffs to regulate trade

Question 6

Who advocated free trade?

Answer 6

Adam Smith

Question 7

What is a Marxist interpretation of the British empires trade?

Answer 7

Expansion is driven by the ‘haves’ against the ‘have nots’

Question 8

Where was reluctant to grant free trade agreements?

Answer 8

China
Opium wars

Question 9

Where was non-colonial trade restricted?

Answer 9

America
American civil war

Question 10

Why was it easier to trade with colonies?

Answer 10

Trading patterns well established
Common language
Tied currency
Common system of commercial law
Borrowing in London capital markets

Question 11

Who was the most industrially advanced country by 1857?

Answer 11

Britain

Question 12

What percentage of Britains imports came from the colonies?

Answer 12

20%

Question 13

What was the worlds financial capital?

Answer 13

London

Question 14

What was ‘imperial preference’?

Answer 14

Tariffs between two colonial nations was lower

Question 15

How did the British empire transport goods?

Answer 15

Shipping
Railroads
Canals

Question 16

What were clipper ships?

Answer 16

Fast ships suited to low volume high profit goods
Tea, Opium, Spices

Question 17

What does sailing ‘under the British ensign’ mean?

Answer 17

With a British flag

Question 18

What boat transported a higher cargo capacity?

Answer 18

Steamships

Question 19

When did steamships become more popular?

Answer 19

After the opening of the Suez canal

Question 20

Where was ‘railway imperialism’ important?

Answer 20

Self-governing colonies

Question 21

Where did most investments in railways come from?

Answer 21

Individuals investing in private companies

Question 22

What is invisible trade?

Answer 22

Investment overseas

Question 23

Why were rivers important?

Answer 23

Focus of explorers quests

Question 24

Why were canals built?

Answer 24

To avoid dangerous waterways

Question 25

What countries exported food cheap foodstuffs and raw materials?

Answer 25

Australia
New Zealand
Canada

Question 26

What did New Zealand export to Britain?

Answer 26

Wool and gold

Question 27

What percentage of New Zealand’s exports went to Britain?

Answer 27

75%

Question 28

What were the main exports from tropical countries?

Answer 28

Cocoa
Coffee
Groundnuts
Sugar
Palm oil

Question 29

What were the main exports from North America and the Caribbean?

Answer 29

Sugar
Tobacco

Question 30

What was the main export from India?

Answer 30

Tea
Opium -> China

Question 31

What was one of the motives behind European expansion?

Answer 31

Discovering precious metals

Question 32

What was the main export from Nigeria?

Answer 32

Tin

Question 33

What countries exported gold?

Answer 33

New Zealand
Gold Coast
Rhodesia
South Africa

Question 34

What was the main export from Sierra Leone and South Africa?

Answer 34

Diamonds

Question 35

Why was industry in the British empire limited?

Answer 35

Couldn’t compete with manufacturing in Britain

Question 36

What years were the chartered company revived due to foreign competition?

Answer 36

1870s

Question 37

What other event supported the revival of chartered companies?

Answer 37

The great depression

Question 38

What league supported the development of chartered companies?

Answer 38

The imperial federation league