Which best statements best accounts for Spain's wealth from the colonization of the new world?

Answer 1

Spain's wealth from the colonization of the New World primarily stemmed from the exploitation of vast Natural Resources, particularly gold and silver, found in colonies such as Mexico and Peru. The encomienda system allowed Spanish settlers to extract labor from Indigenous populations, further boosting economic gains. Additionally, the establishment of trade networks facilitated the flow of goods and wealth back to Spain, solidifying its status as a dominant global power during the 16th and 17th centuries.