Final answer:
Colonies founded for economic reasons were called Mercantile Outposts.
Step-by-step explanation:
Colonies founded for economic reasons were called Mercantile Outposts. In the mercantilist system, colonies played a crucial role in providing raw materials to fuel industrial growth in European nations. These colonies were established to secure markets and ensure a favorable balance of trade for the home country. The main purpose of these colonies, according to mercantilist theory, was to provide natural resources for the home country.