HISTORY
ABSOLUTISM AND REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Markets in colonies were closed to manufactured goods from the mother country.
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Land was distributed equally between social classes.
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Industries in the colonies manufactured the majority of finished goods for the mother country.
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The wealth of the colonial power increased at the expense of the colony.
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Detailed explanation-1: -Answers. The statement that best reflects the effect of mercantilism on the colonies in Latin America would be that “d. The wealth of the colonial power increased at the expense of the colony, ‘’ since Britain put strict trade rules in place.
Detailed explanation-2: -Mercantilism led to the adoption of enormous trade restrictions, which stunted the growth and freedom of colonial business. Much of the trade that took place before the mid-17th century was controlled by the Spanish and Dutch, including to and from England.
Detailed explanation-3: -The mercantile theory held that colonies exist for the economic benefit of the mother country and are useless unless they help to achieve profit. The mother nation should draw raw materials from its possessions and sell them finished goods, with the balance favouring the European country.