WORLD HISTORY

Detailed explanation-1: -Mercantilism was a form of economic nationalism that sought to increase the prosperity and power of a nation through restrictive trade practices. Its goal was to increase the supply of a state’s gold and silver with exports rather than to deplete it through imports.

Detailed explanation-2: -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).

Detailed explanation-3: -Answer and Explanation: The mother nations of colonies benefited most from mercantilism. This is because the colonial home nations (such as Spain or Britain) used mercantilism to acquire as many resources and assets as possible from their colonies.

Detailed explanation-4: -Mercantilism In Great Britain The mother country imported raw materials from these colonies at cheaper rates. And then it exported manufactured products to them. This export trading was carried out in gold, silver, or other metal currencies, which added to the national wealth.

Detailed explanation-5: -An example of mercantilism was the Sugar Act of 1764 which made colonists in America had to pay higher tariffs and duties on imports of foreign-made refined sugar products.