Question

Europeans colonized Latin America in the hope of gaining wealth from which natural resource?

1) Gold
2) Silver
3) Oil
4) Timber

Answer 1

Europeans primarily colonized Latin America to extract natural resources like gold and silver, influenced by mercantilist economic theories, and Spain sourced immense wealth from territories such as Potosí.

The correct option is 1 and 2.

Step-by-step explanation:

Europeans colonized Latin America primarily in search of wealth, specifically from the natural resources of gold and silver. Driven by economic theories like mercantilism, Europeans believed the Americas were filled with precious metals that could greatly enhance their nation's wealth and power.

Spain was especially successful in extracting vast amounts of silver from territories such as Potosí, turning these areas into boom towns and attracting settlers from across the world. Massive treasure fleets carried the wealth from the New World back to Spain, establishing the enduring relationship between colonization and the extraction of gold and silver.

The correct option is 1 and 2.