Questions

Mercantilism was the principle that wealth of a nation comes from trading with other nations and also comes by imposing government regulations on all of the nation's economic interests.

The main principles of mercantilism:

• the country's wealth is determined by the amount of precious metals in the country,

• Wealth is created in business relations (International Trade)

• The goal is an active trade balance of trade,

• to serve protectionism, government subsidies and the issue of protective tariffs.

Industrialization resulted in both economic growth and increased urbanization in American society.

The Homestead Strike was when, in 1892, Andrew Carnegie reduced wages at his steel mills in Homestead, Pennsylvania and the union workers refused to accept the cut. The company locked out the union workers and hired nonunion labor and 300 armed guards. The locked out workers gathered weapons and , on July 6, a battle broke out killing ten people.