AP European History Flashcards: Economic Development And Mercantilism

What this deck covers

This deck focuses on Economic Development And Mercantilism, giving you a quick way to review the definitions, rules, and examples that matter most for AP European History.

How to use these flashcards

Work through these flashcards in short sessions. Try to answer each prompt before flipping the card, then revisit any cards you miss until the explanation feels automatic.

Flashcard 1: Which economic policy dominated European thought in the 16th-18th centuries?

Answer: Mercantilism. Mercantilism shaped European economic policy for three centuries.

Flashcard 2: Identify the primary goal of mercantilist policies.

Answer: To achieve a favorable balance of trade. Export surpluses were seen as the key to national prosperity.

Flashcard 3: What was the impact of mercantilism on indigenous populations?

Answer: Exploitation and disruption of local economies. Mercantilist extraction often devastated native economic structures.

Flashcard 4: Identify a non-tariff barrier used in mercantilism.

Answer: Import quotas. Quantity restrictions complemented tariffs in protecting domestic markets.

Flashcard 5: Identify one key feature of mercantilism.

Answer: Colonies supply raw materials to the mother country. This colonial relationship ensured mother countries had cheap inputs.

Flashcard 6: What did mercantilists believe about the world's wealth?

Answer: It was finite and needed to be accumulated. This zero-sum view justified aggressive trade competition between nations.

Flashcard 7: Which economic theory supplanted mercantilism in the 18th century?

Answer: Liberalism. Free trade theories challenged mercantilism's state intervention focus.

Flashcard 8: Identify one strategy mercantilists used to protect domestic industries.

Answer: High tariffs on imports. Import duties shielded local producers from foreign competition.

Flashcard 9: What is the primary measure of wealth in mercantilism?

Answer: Accumulation of gold and silver. Precious metals were considered the foundation of national strength.

Flashcard 10: What is mercantilism?

Answer: An economic policy aimed at maximizing exports and minimizing imports. This policy sought to create trade surpluses to strengthen national power.

Flashcard 11: Which empire became a model of mercantilism through its global trade network?

Answer: British Empire. British colonies and trade networks exemplified mercantilist success.

Flashcard 12: Which term describes government grants for specific economic activities?

Answer: Subsidies. Government financial support promoted favored industries and exports.

Flashcard 13: What economic concept is illustrated by a nation exporting more than importing?

Answer: Trade surplus. Export surpluses demonstrated successful mercantilist implementation.

Flashcard 14: Which group of people benefitted most from mercantilism?

Answer: Wealthy merchants and the state. These groups gained from restricted competition and colonial trade.

Flashcard 15: What role did chartered companies play in mercantilism?

Answer: Controlled trade and colonial ventures. These monopolies implemented state-directed trade policies abroad.

Flashcard 16: Identify the economic system that encourages colonial expansion.

Answer: Mercantilism. Colonies were essential for implementing mercantilist trade strategies.

Flashcard 17: What was the impact of mercantilism on indigenous populations?

Answer: Exploitation and disruption of local economies. Mercantilist extraction often devastated native economic structures.

Flashcard 18: Name one economic effect of mercantilism.

Answer: Increased national wealth through trade balance. Positive trade balances accumulated precious metals and strengthened states.

Flashcard 19: What was the purpose of the East India Company?

Answer: To manage trade between England and the East Indies. This chartered company controlled lucrative Asian trade routes.

Flashcard 20: What was one economic justification for colonial expansion?

Answer: Need for raw materials and new markets. Economic motives drove European imperial expansion and colonization.

Flashcard 21: Name one economic effect of mercantilism.

Answer: Increased national wealth through trade balance. Positive trade balances accumulated precious metals and strengthened states.

Flashcard 22: Which empire became a model of mercantilism through its global trade network?

Answer: British Empire. British colonies and trade networks exemplified mercantilist success.

Flashcard 23: What role did chartered companies play in mercantilism?

Answer: Controlled trade and colonial ventures. These monopolies implemented state-directed trade policies abroad.

Flashcard 24: Identify one criticism of mercantilism.

Answer: It leads to colonial exploitation. Mercantilist policies often harmed colonial populations and economies.

Flashcard 25: What was the impact of mercantilism on European colonial powers?

Answer: Increased wealth and political power. Trade surpluses translated into military and diplomatic advantages.

Flashcard 26: What was the main goal of the French economic policy under Colbert?

Answer: To strengthen the economy through mercantilism. Colbert's policies aimed to make France economically self-sufficient.

Flashcard 27: What is bullionism?

Answer: An economic theory that wealth is based on the accumulation of gold and silver. This theory equated national wealth with specie accumulation.

Flashcard 28: Which monarch implemented mercantilist policies in France?

Answer: Louis XIV. The Sun King actively promoted French manufacturing and trade.

Flashcard 29: Which law required American colonies to trade primarily with England?

Answer: Navigation Acts. These laws enforced colonial dependence on the mother country.

Flashcard 30: Identify a non-tariff barrier used in mercantilism.

Answer: Import quotas. Quantity restrictions complemented tariffs in protecting domestic markets.

Flashcard 31: Identify one strategy mercantilists used to protect domestic industries.

Answer: High tariffs on imports. Import duties shielded local producers from foreign competition.

Flashcard 32: What was the Navigation Act of 1651?

Answer: A law to restrict colonial trade to English ships. This protectionist measure strengthened English shipping dominance.

Flashcard 33: Which economic system emphasizes national self-sufficiency?

Answer: Mercantilism. Reduced dependence on foreign goods was a key mercantilist goal.

Flashcard 34: Which economic policy limits imports through tariffs and quotas?

Answer: Protectionism. Trade barriers protected domestic industries from foreign competition.

Flashcard 35: What was one effect of mercantilism on European economies?

Answer: Increased state intervention in trade. Governments actively managed commerce to achieve national objectives.

Flashcard 36: Which law required American colonies to trade primarily with England?

Answer: Navigation Acts. These laws enforced colonial dependence on the mother country.

Flashcard 37: Which nation was the leading mercantile power in 17th century Europe?

Answer: The Netherlands. Dutch dominance stemmed from superior shipping and financial systems.

Flashcard 38: Which economic system emphasizes national self-sufficiency?

Answer: Mercantilism. Reduced dependence on foreign goods was a key mercantilist goal.

Flashcard 39: What is a balance of trade?

Answer: The difference in value between a country's imports and exports. This metric determined whether nations gained or lost wealth through trade.

Flashcard 40: Which term describes government grants for specific economic activities?

Answer: Subsidies. Government financial support promoted favored industries and exports.

Flashcard 41: What is the key difference between mercantilism and capitalism?

Answer: Mercantilism is state-controlled; capitalism is market-driven. Government control versus free market mechanisms distinguished these systems.

Flashcard 42: What did mercantilists believe about the world's wealth?

Answer: It was finite and needed to be accumulated. This zero-sum view justified aggressive trade competition between nations.

Flashcard 43: What was one economic justification for colonial expansion?

Answer: Need for raw materials and new markets. Economic motives drove European imperial expansion and colonization.

Flashcard 44: Which economic theory supplanted mercantilism in the 18th century?

Answer: Liberalism. Free trade theories challenged mercantilism's state intervention focus.

Flashcard 45: What is the primary measure of wealth in mercantilism?

Answer: Accumulation of gold and silver. Precious metals were considered the foundation of national strength.

Flashcard 46: What role did colonies play in mercantilism?

Answer: Sources of raw materials and markets for exports. Colonies provided controlled supply chains for mercantilist empires.

Flashcard 47: What was one negative effect of mercantilism on trade relations?

Answer: Increased international tensions. Competition for trade dominance created conflicts between European powers.