New Economic Systems: Mercantilism and Capitalism
New Economic Systems: Mercantilism and Capitalism is a skill on Pengi from Lesson 3: The Columbian Exchange in Pengi Social Studies (Grade 7).
Key Concepts
The wealth flowing from colonies changed Europe's economy. Nations adopted an economic policy called Mercantilism , which held that a country's power depended on its wealth (gold and silver). The goal was to export more than you import. Colonies were vital because they provided raw materials and a market for finished goods.
At the same time, Capitalism emerged. This system is based on private ownership and the investment of money for profit. Merchants, not just nobles, began to grow rich. They formed Joint Stock Companies to fund expensive voyages, sharing both the risks and the profits of colonization.
Common Questions
What is New Economic Systems: Mercantilism and Capitalism?
New Economic Systems: Mercantilism and Capitalism is a skill on Pengi from Lesson 3: The Columbian Exchange in Pengi Social Studies (Grade 7).
What grade level is New Economic Systems: Mercantilism and Capitalism for?
New Economic Systems: Mercantilism and Capitalism is part of the Grade 7 History curriculum, covered in Pengi Social Studies (Grade 7). It is designed for students studying History at the Grade 7 level.
How can I learn New Economic Systems: Mercantilism and Capitalism?
Pengi offers an AI-guided lesson for New Economic Systems: Mercantilism and Capitalism that walks you through the key concepts step by step. The lesson is aligned to Pengi Social Studies (Grade 7) so the content matches what you see in class.
How do I practice New Economic Systems: Mercantilism and Capitalism?
After learning the concept, use the Practice mode to work through targeted exercises on New Economic Systems: Mercantilism and Capitalism. The AI adapts to your level and gives feedback on each answer so you can identify and fix mistakes.
Which textbook covers New Economic Systems: Mercantilism and Capitalism?
New Economic Systems: Mercantilism and Capitalism is covered in Pengi Social Studies (Grade 7), specifically in Chapter 10: The Early Modern World under Lesson 3: The Columbian Exchange. Pengi's lesson is aligned directly to this textbook so you can follow along with your class.
Is New Economic Systems: Mercantilism and Capitalism free to study on Pengi?
Yes, the core Learn and Practice modes for New Economic Systems: Mercantilism and Capitalism are available for free on Pengi. No credit card is required to start studying.