Final answer:
Mercantilism influenced European exploration and settlement in North America by emphasizing the need for a colonial empire to ensure economic dominance. Colonies provided raw materials and a market for home country goods, leading European nations to establish colonies in North America for resource extraction and trade control.
Step-by-step explanation:
Mercantilism, an economic theory embraced by European nations in the sixteenth and seventeenth centuries, greatly influenced the exploration and settlement of North America. Mercantilists believed that a colonial empire was crucial for economic dominance, as colonies could supply raw materials for domestic consumption and serve as ready markets for goods made in the home country. European countries established colonies in North America to extract resources and ensure a favorable balance of trade, with colonies trading exclusively with the home country.