EMERGENCE OF USA
FOUNDATION OF AMERICAN COLONIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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finished American-manufactured goods
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raw materials and markets for British products
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officials to represent colonial interests in Parliament
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laborers to work in British factories
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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: -Under mercantilism, colonies were important because they produced raw materials for the mother country, goods that the country would have to import otherwise (things like grain, sugar, or tobacco). The colonies also gave the mother country an outlet for exports, which increased jobs and industrial development at home.
Detailed explanation-3: -The goal of mercantilism was to stimulate the economy by keeping colonial trade within England and by exporting more than they imported. The colonies played an essential role in the British mercantilist system through the Navigation Acts of 1651.
Detailed explanation-4: -British economic policy was based on mercantilism, which aimed to use the American colonies to bolster British state power and finances.
Detailed explanation-5: -American ships carried products such as lumber, tobacco, rice, and dried fish to Britain. In turn, the mother country sent textiles, and manufactured goods back to America.