FROM RAW MATERIALS TO RICHES:
MERCANTILISM AND THE COLONIES OF
BRITISH NORTH AMERICA
OBJECTIVES
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Define key terms such as mercantilism, market, raw materials, finished
goods, exports, imports, trade barriers, balance of trade, Navigation Acts,
tariffs, imperialism.
Simulate trade in a free market economy.
Simulate the mercantilist system that existed between Britain and the
North American colonies.
Compare and contrast the trade in a free market with trade under the
mercantilist system.
Explain how the mercantilist system worked and why some European
powers pursued these policies.
Read and interpret a variety of primary sources on the topic of
mercantilism.
Evaluate the strengths and weaknesses of mercantilism as an economic
system.
Describe how markets are affected by changes in government trade
policies.
MONEY
MARKETS
CAPITAL
GAME ROLES ROUND 1
Households have RESOURCES——
they want GOODS.
 Trade resources for money and
buy goods!
 Businesses have MONEY—they
want MORE MONEY than they had
at the start.
 Buy resources, make goods, sell
goods for a profit!
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DEBRIEF
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Which businesses were successful? Why?
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Which households were successful? Why?
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What caused some households and businesses to
be less successful than others?
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How well did everyone follow the rules? Did anyone
have to go to jail?
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Why did the markets work even though there were
few rules to follow?
T-CHART FOR MERCANTILISM
Dividing the world’s resources IS
like dividing a cookie because:
Dividing the world’s resources IS
NOT like dividing a cookie because:
MAP OF EUROPEAN COLONIES CIRCA 1700
MERCANTILISM POLITICAL CARTOON
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http://www.historyhub.us/14-study-notes.html
TRADE RESTRICTIONS
Act/Regulation
Date Significance/Features
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Favored British ships and sailors
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Limited Dutch trade
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Required all colonial trade to be on English ships
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Master and three-quarters of crew must be English
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"enumerated goods"
1663
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Land in England first
Plantation Duty Act 1673
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English customs house in colonies
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Courts to enforce trade regulations and punish smugglers
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Right to board ships
Navigation Act
Navigation Act
Staple Act
Navigation Act
1651
1660
1696
ROLES ROUND 2
Households have RESOURCES—they
want GOODS.
 Trade resources for money and buy
goods!
 Businesses have MONEY—they want
MORE MONEY than they had at the
start.
 Buy resources, make goods, sell
goods for a profit!
 All businesses, except the British,
must pay a tax to get a manufactured
good.
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DEBRIEF
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Which businesses were successful? Why?
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Which businesses were hurt the most? Why?
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Which households were successful? Why?
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Which households were hurt the most? Why?
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How do you think these experiences affected how
people felt about Great Britain?
MERCANTILISM ASSESSMENT PIECE
You will read informational text about British
North America and the mercantilist system. You
will use your simulation experience as well as the
informational text to decide whether a person
from the time period in the role you played in the
simulation would have supported or opposed
mercantilism. You must support your position
using evidence from the reading and the
simulation experience.
ECONOMICS STANDARDS AND BENCHMARKS
National Standards for Economic Education
Content Standard 5: Trade
Students will understand that: Voluntary exchange occurs only when all participating parties
expect to gain. This is true for trade among individuals or organizations within a nation, and
among individuals or organizations in different nations.
Students will be able to use this knowledge to: Negotiate exchanges and identify the gains to
themselves and others. Compare the benefits and costs of policies that alter trade barriers
between nations such as tariffs and quotas.
Content Standard 7: Markets and Prices
Students will understand that: Markets exist when buyers and sellers interact. This
interaction determines market prices and thereby allocates scarce goods and services.
Students will be able to use this knowledge to: Identify markets in which they have
participated as a buyer and seller and describe how the interaction of all buyers and sellers
influences prices. Also, predict how prices change when there is either a shortage or surplus
of the product available.
Content Standard 13: Income
Students will understand that: Income for most people is determined by the market value of
the productive resources they sell. What workers earn primarily depends on the market value
of what they produce.
HISTORY AND COMMON CORE STANDARDS
National U.S. History Content Standards
Content Standard 3A: Economic Life in British North America
•The student will explain mercantilism and evaluate how it influenced patterns
of economic activity.
Common Core Standards
Grades 9-10 students
Comprehension and Collaboration
1c. Propel conversations by posing and responding to
questions that relate the current discussion to broader
themes or larger ideas; actively incorporate others into the
discussion; and clarify, verify, or challenge ideas and
conclusions.
Grades 11-12 students
1c. Propel conversations by posing and
responding to questions that probe reasoning and
evidence; ensure a hearing for a full range of
positions on a topic or issue; clarify, verify, or
challenge ideas and conclusions; and promote
divergent and creative perspectives.