colonism
The economic system is called mercantilism.
The economic system is called mercantilism.
The economic system in which colonies produced goods primarily for the benefit of the mother country is known as mercantilism. This system emphasized the accumulation of wealth through a favorable balance of trade, where colonies supplied raw materials and resources to the mother country, which in turn manufactured goods for export. The goal was to enhance the economic power and self-sufficiency of the mother country while limiting the colonies' economic independence.
Through the English economic system of mercantilism - colonies providing the mother country with wealth.
The colonies provided the mother country with a source of raw materials that could be harvested and shipped back home, fueling economic growth and manufacturing. This access to abundant resources, such as timber, tobacco, and sugar, reduced the need for imports from other nations and enhanced the mother country's trade balance. Additionally, the colonies served as markets for finished goods, further boosting the mother country's economy. Overall, this relationship fostered a cycle of economic dependency that benefited the mother country significantly.
The economic system is called mercantilism.
The economic system is called mercantilism.
mercantilism
http://wiki.answers.com/Q/The_economic_theory_that_colonies_exist_solely_to_enrich_the_mother_country_is_called"
The economic system in which colonies produced goods primarily for the benefit of the mother country is known as mercantilism. This system emphasized the accumulation of wealth through a favorable balance of trade, where colonies supplied raw materials and resources to the mother country, which in turn manufactured goods for export. The goal was to enhance the economic power and self-sufficiency of the mother country while limiting the colonies' economic independence.
Mercantile system. The concept is that by keeping the resources of colonies for itself, the home country can become wealthier and more powerful.
The economic relationship was called Mercantilism. In this system raw goods are sold by the colonies to the "mother" country. The "mother" country would then process and manufacture these goods into a product and sell them back to the colonies at a higher rate. This way, the mainland would make a surplus while the colonies would lose money.
Imperialism.
Mercantilism
Colonies creating wealth for the mother country.
Through the English economic system of mercantilism - colonies providing the mother country with wealth.
provide raw materials for the mother country