Question

What is mercantilism and why did its supporters want to see the US engage in imperialism?

A. Mercantilism is an economic theory that advocates for a nation's wealth through export of goods and colonization. Supporters wanted imperialism to secure resources and markets for the mother country.
B. Mercantilism is a form of government. Supporters wanted imperialism to spread their political system.
C. Mercantilism is a type of religion. Supporters wanted imperialism to convert more people to their faith.
D. Mercantilism is a type of art. Supporters wanted imperialism to promote their artistic culture.

Answer 1

Mercantilism is an economic theory aimed at increasing a nation's wealth by promoting exports and colonization for acquiring resources and markets. Imperialism was seen as a tool to achieve economic dominance as per mercantilist policy. Correct option is A

Step-by-step explanation:

Mercantilism is an economic theory that advocates for a nation's wealth through the exportation of goods and the establishment of colonies. This policy is based on the belief that the world's wealth, measured in gold and silver, is finite. Therefore, to become more powerful, a nation must accumulate precious metals by exporting goods and importing as few goods as possible.

Supporters of mercantilism wanted to engage in imperialism to secure resources and markets for the mother country. They believed that colonies could provide raw materials and serve as markets for goods produced in the home country, thereby leading to a favorable balance of trade. This mercantilist approach helped fund technological advancements and laid the groundwork for the Industrial Revolution.

Thus, the correct answer to the student's question is: A. Mercantilism is an economic theory that advocates for a nation's wealth through export of goods and colonization. Supporters wanted imperialism to secure resources and markets for the mother country.