HISTORY
NEW GLOBAL CONNECTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A system where a mother countries gains money and power from natural resources that come from its colonies.
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where colonies trade gold and silver with each other.
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Wars that start over money.
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Plantation colonies trading slaves for money.
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Detailed explanation-1: -The country enjoyed the greatest benefits of mercantilism between 1640 and 1660 when the prevailing economic wisdom suggested that the empire’s colonies could supply raw materials and resources to the mother country and subsequently be used as export markets for the finished products.
Detailed explanation-2: -Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It was an economic policy that gave rise to imperialism and colonialism among European nations.
Detailed explanation-3: -Mercantilism and Colonialism Under mercantilism, nations sought to establish colonies to produce goods over which the home economy had monopolistic control. Mercantilists believed that colonies existed not for the benefit of settlers, but for the benefit of the imperial centre.