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What theory holds that a nations power depends on trade?
Mercantilism.
The seventeenth century theory which viewed colonies primarily as sources of raw material is?
Mercantilism is the economic system where colonies provided raw materials to England.
The basic economic and political theory by which 17th and 18th century European powers governed their overseas colonies?
Seventeenth and eighteenth century European powers mainly utilized Adam Smith's mercantilism concept of economics, which enriched the mother nation through restricted spheres of trade. Politically, it depended. France ruled with an absolute monarchy that controlled virtually all the details of colonial affairs, whereas in England, a parliament that controlled the nation's finances had considerable influence upon the actions of the King and the nation.
British authorities based their colonial commercial policies on the theory of?
The Navigation Acts were an attempt to put the theory of Mercantilism into practice in the British colonies. The object of mercantilism was to minimize imports that cost the nation money, and maximize exports that made the nation money. Colonies were a means of reducing England's dependence on foreign nations. Each colony would provide a raw material to England and this would allow the nation to not have to purchase that product from another nation. By establishing colonies loyal to the Crown, Great Britain would be expanding a dependable market for the finished products coming out of British industries.
Under mercantilisim What did a country need to do to become rich?
The economic theory of mercantilism dictates that genuine wealth consists in possession of the (real or imagined) limited material resources of the world. Hence, within the confines of this theory, a country's wealth is fully dependent on having large stockpiles of material goods; or, at least, having larger stockpiles than one's economic competitors.
How did the economic theory of mercantilism influence the exploration and settlement of of North America by Europeans?
Once gold was discovered in America, countries wanted to capitalize on that and sent more people to settle in North America.
How did the economic theory of mercantilism influence the exploration and settlement of north Americam by Europeans?
hustin is a big city so thts how they did it
What is the basis for the economic theory of mercantilism that drove the exploration and settlement of North America by Europeans?
Mercantilism is based on the idea that a nation's power stems from its wealth, which encouraged the acquisition of natural resources and developing trade in North America.
What is the basis for the the economic theory of mercantilism that drove the exploration and settlement of North America by Europeans?
Mercantilism is based on the idea that a nation's power stems from its wealth, which encouraged the acquisition of natural resources and developing trade in North America.
The dominant economic theory of the late 1700s was?
MercantilismThe answer is Mercantilism
Where and when did the theory of mercantilism develop?
The theory of mercantilism developed in Europe during the 16th to 18th centuries. It was most prominent in countries like England, Spain, and France during the Age of Exploration and colonial expansion. Mercantilism emphasized the importance of accumulating wealth through a favorable balance of trade, maintaining a large supply of gold and silver, and promoting exports while limiting imports.
Did the theory of mercantilism was based on the idea that colonies existed primarily for the economic benefit of the mother country?
(True) that is the theory of mercantilism.
What was the Economic theory that supported colonialism?
Mercantilism
What is the economic theory that supported colonialism?
Mercantilism :)
What statement describes the theory of mercantilism?
The theory of mercantilism is described best as England giving economic favors. these favors were given to some companies and people but not others.
When was mercantilism popular?
Mercantilism was an economic theory popular in Europe during the Age of Exploration. It related to world exploration, establishing colonies in other lands, and protecting industry in the European country. Mercantilism can be summarized as follows.A country's wealth is based on the amount of gold and silver it hasA country increases its silver and gold by selling more goods to other countries that it buys for themThe government regulates all foreign trade (imports and exports) so more gold and silver enter the country than leave it.
The theory that a states power depends on its wealth is called?
Mercantilism
