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What is mercantilism
An economic system aiming to maximize wealth through trade regulations with a balance of exports over imports.
Who implemented this system?
The British in the American colonies
Benefits
Guaranteed market for raw materials like tobacco and naval protection from foreign threats
drawbacks
The British Navigation Acts restricted colonial trade and only let them trade with the British
why were the drawbacks so bad?
The dependency on the british stifled colonies econmic growth and autonomy. Taxes on everyday goods drained colonial resources.
What emotion did it bring to the colonies
resentment towards the British and the want for independence
Note 
Flashcard (49)