American Revolution Homework Practice
| # | Answer |
|---|---|
| 1 | A political and military conflict in which the thirteen American colonies fought to gain independence from Great Britain. |
| 2 | Great Britain. |
| 3 | Because it affected trade, taxes, government spending, property rights, and the creation of a new economic system. |
| 4 | A required payment to the government used to raise revenue. |
| 5 | The Stamp Act, the Tea Act, or the Townshend Acts. |
| 6 | People should not be taxed by a government unless they have representatives who can speak for them in that government. |
| 7 | They believed the taxes were unfair because they had no direct representation in Parliament and the taxes raised the cost of trade and daily goods. |
| 8 | An economic system in which a country seeks to increase wealth and power by controlling trade and collecting as much revenue as possible from its colonies. |
| 9 | They limited colonial trade, restricted manufacturing, and forced colonists to buy and sell in ways that benefited Britain. |
| 10 | They wanted to control their own trade, taxes, and economic decisions. |
| 11 | Refusing to buy goods or use services as a form of protest or pressure. |
| 12 | They reduced sales and profits because colonists stopped purchasing British goods. |
| 13 | A tax placed on imported goods. |
| 14 | They could raise prices of imported goods, making them more expensive for colonists to buy. |
| 15 | An economic cost is any expense or sacrifice; opportunity cost is the value of the next best alternative that is given up. |
| 16 | They gave up access to some imported British goods and possibly lower prices or greater variety. |
| 17 | Because British restrictions and taxes affected their profits and business opportunities. |
| 18 | War can increase government spending, damage trade, and create shortages or inflation. |
| 19 | A general rise in prices over time, reducing the purchasing power of money. |
| 20 | Because wartime shortages, disrupted trade, and heavy money printing could push prices upward. |
| 21 | Supply often fell because trade and production were disrupted, while demand for goods like food, clothing, and weapons remained high. |
| 22 | A situation in which resources or goods are limited relative to demand. |
| 23 | Shortages of gunpowder, cloth, salt, or food in some areas. |
| 24 | It funds public services, defense, and administration. |
| 25 | Britain had large war debts and wanted the colonies to help pay for defense and administration. |
| 26 | Money that is owed to others. |
| 27 | A government may raise taxes or seek new revenue sources to pay interest and principal on borrowed money. |
| 28 | They believed the restrictions limited their ability to profit from trade and develop local industries. |
| 29 | Because boycotts and shortages encouraged domestic manufacturing and self-sufficiency. |
| 30 | Being able to produce enough goods and services for one’s own needs rather than relying heavily on outside sources. |
| 31 | Demand increased because colonists needed domestic substitutes for imported British goods. |
| 32 | The exclusive control of a market or supply of a good or service by one seller or group. |
| 33 | Britain limited competition and controlled key trading relationships, giving it strong influence over colonial markets. |
| 34 | Political independence gives a region more ability to set its own taxes, trade policies, and economic rules. |
| 35 | It would allow them to trade more freely, keep more profits, and make their own economic decisions. |
| 36 | It helped justify breaking away from British control so the colonies could create their own economic system and trade policies. |
| 37 | A situation in which a country imports more value than it exports. |
| 38 | Because Britain wanted the colonies to buy British goods and supply raw materials, which kept wealth flowing to Britain. |
| 39 | If governments issued too much paper money or goods became scarce, money could lose value. |
| 40 | Paper money is currency made from paper rather than metal; it was important because governments needed a way to pay soldiers and fund the war. |
| 41 | Because too much money chasing limited goods can reduce each unit’s purchasing power. |
| 42 | It increased the need for public finance, military supply, and economic coordination. |
| 43 | An economic incentive is something that encourages action; taxes gave colonists a reason to resist policies that raised their costs. |
| 44 | Because restrictions on manufacturing and trade limited investment, competition, and market expansion. |
| 45 | By removing some British trade limits and allowing Americans to start businesses that met local demand. |
| 46 | This is true because it challenged British control over taxation, trade, and production, and it helped create a more independent colonial economy. |
| 47 | When supply falls while demand stays the same or rises, buyers compete for fewer goods, which pushes prices up. |
| 48 | Short term, war caused shortages, debt, and inflation; long term, independence opened the way for freer trade, domestic industry, and new markets. |
| 49 | It led Americans to emphasize consent, representation, and limits on government power when raising revenue. |
| 50 | The American Revolution changed the economic relationship by ending British control over colonial trade, taxation, and regulation. Under mercantilism, the colonies served British interests by supplying raw materials and buying manufactured goods. During the revolution, boycotts, shortages, inflation, and war debt exposed the costs of that system. After independence, Americans gained more freedom to trade, produce goods, and make fiscal decisions, although the new nation also faced major financial challenges. |