Chapter 1 Lesson 3 Quiz: Trade and Economic Change

6. What was the main goal of mercantilism ?

• To accumulate wealth and power for the nation
• B. To promote free trade between countries
• C. To encourage self-sufficiency and isolation
• D. To establish a system of barter and exchange

7. What was a benefit of joint-stock companies?

• A. Exclusive ownership rights
• B. Protection from losing all their money
• C. Direct control by the government
• D. Easy access to unlimited capital

8. Europeans in the Americas planted European grains such as wheat, oats, and _____.

• A. Tea.
• B. Bananas.
• C. Corn.
• D. Barley.

9. What did Europeans discover would happen if they planted potatoes instead of grain?

• A. Four times as many people would live off the same amount of land.
• B. Trade with Native Americans would improve.
• C. The soil would not lose its nutrients as quickly.
• D. They would be able to make tastier meals.

10. How did horses change the lives of Native Americans?

• A. They were used in religious ceremonies and rituals.
• B. Horses gave Native Americans a new source of food.
• C. They improved transportation, hunting, and trading abilities.
• D. Horses helped Native Americans stop colonization.

Match the following

• Bullion

• Global trading of people, goods, ideas, and diseases

• Capitalism

• An economic system in which money is invested in business to make profits

• Columbian Exchange

• Bankers from Florence, Italy

• Medici Family

• Gold and silver

• Colony

• Settlement of people living in a new territory controlled by their home country