Mercantilism is the economic theory where raw materials were sent to England for manufacturing and then shipped back to the colonies as finished goods, benefiting England through trade regulation and increasing wealth. This system led to colonial discontent and fueled resistance movements like the American Revolution.
Mercantilism is the economic theory that describes the practice of sending raw materials to the mother country (England) for manufacturing and then shipping back the finished goods to the colonies. This system aimed to benefit England by maximizing exports and minimizing imports, ultimately increasing the nation's wealth through trade.
Under mercantilism, the Navigation Acts were passed to regulate colonial trade and ensure that only British ships could trade with the colonies, establishing a favorable balance of trade for England. This economic policy led to colonial discontent and played a role in sparking resistance movements, including the American Revolution.
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