What role did mercantilism play in the colonial economy?

Study for the 8th Grade US History Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Multiple Choice

What role did mercantilism play in the colonial economy?

Explanation:
Mercantilism is about increasing a nation’s wealth by controlling trade and accumulating precious metals, with the belief that a strong country should keep wealth within its own borders. In the colonial era, Britain used this idea to make the colonies serve its economy: raw materials from the colonies were meant to go to Britain, and the colonies bought manufactured goods from Britain. By restricting who could trade with the colonies and guiding those flows through the mother country, Britain kept wealth concentrated there and built power. So the best description is that mercantilism aimed to increase national wealth by restricting colonial trade to benefit the mother country. This fits the pattern of laws and practices like the Navigation Acts, which kept colonial commerce under British control.

Mercantilism is about increasing a nation’s wealth by controlling trade and accumulating precious metals, with the belief that a strong country should keep wealth within its own borders. In the colonial era, Britain used this idea to make the colonies serve its economy: raw materials from the colonies were meant to go to Britain, and the colonies bought manufactured goods from Britain. By restricting who could trade with the colonies and guiding those flows through the mother country, Britain kept wealth concentrated there and built power. So the best description is that mercantilism aimed to increase national wealth by restricting colonial trade to benefit the mother country. This fits the pattern of laws and practices like the Navigation Acts, which kept colonial commerce under British control.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy