Question

Why was it important for
Europeans to compete for territory in the
Americas?

Answer 1

The Americas had crops that could be sold for large profit in the Americas, such as tobacco and cotton. Also, as proven by Spain, the Americas had massive amounts of gold, which was used as money at the time.

Answer 2

Competition for land grabs, settlement, trade, and exploration led to the growth of New World imperialism and the economic system of mercantilism

mercantilism-the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.