COLONIALISM AND IMPERIALISM
COLONIALISM AND ITS ANALYSIS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Because mercantilism encouraged religious freedom
|
|
|
Because mercantilism encouraged religious expansion
|
|
|
Because mercantilism encouraged the reinforcement of monarchy
|
|
|
Because mercantilism encouraged the accumulation of riches by exploiting resources
|
Detailed explanation-1: -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.
Detailed explanation-2: -Mercantilism developed at a time of transition for the European economy. Isolated feudal estates were being replaced by centralized nation-states as the focus of power. Technological changes in shipping and the growth of urban centers led to a rapid increase in international trade.
Detailed explanation-3: -Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver). In mercantilism, wealth is viewed as finite and trade as a zero-sum game. Mercantilism was the prevalent economic system in the Western world from the 16th to the 18th century.
Detailed explanation-4: -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.