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Mercantilism
- Mercantilism is a concept that came out during
the Age of Exploration.
- Mercantilism is the idea that a nation is more
powerful and wealthy if it has overseas colonies.
- The overseas colonies provide gold and silver
for the home country.
- The Colonies also provide raw materials and will
also buy manufactured goods from the home country.
- Under the system of Mercantilism the colonies
exist for the benefit of the imperial power.
Sample Regents Question:
According to the theory of mercantilism, colonies
should be
1.
acquired as markets and sources of raw materials
2.
considered an economic burden for the colonial power
3.
grated independence as soon as possible
4.
encouraged to develop their own industries
Answer: 1
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