USA HISTORY

Detailed explanation-1: -Mercantilism A country’s goal was self-sufficiency and that all other countries were in a competition to get the most silver and gold. Navigation Acts A series of laws restricting colonial trade.

Detailed explanation-2: -Most powerful nations worked to gather as much wealth as possible The belief was that money = power Since England did not have access. British Economic Policy Towards Colonial America Mercantilism Defined: a countries goal is self sufficiency and that all countries were in a competition.

Detailed explanation-3: -The Navigation Acts (1651, 1660) were acts of Parliament intended to promote the self-sufficiency of the British Empire by restricting colonial trade to England and decreasing dependence on foreign imported goods.

Detailed explanation-4: -Mercantilism was a popular economic philosophy in the 17th and 18th centuries. In this system, the British colonies were moneymakers for the mother country. The British put restrictions on how their colonies spent their money so that they could control their economies.

Detailed explanation-5: -Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).