Final answer:
The term 'colonialism' correctly defines the process of extracting tributes, controlling fixed assets, and labor power, frequently justified by religious persuasion or despotic power and primarily used for economic exploitation.
Step-by-step explanation:
The term that fits the definition "Extraction of tributes, control of fixed assets, and/or the control of labor power - usually through some form of religious persuasion or despotic" is colonialism. Colonialism involved the establishment of control over another group, primarily for economic exploitation, including the extraction of raw materials and the exploitation of native labor, often with pseudo-legal backing or outright force. This system was justified through the rhetoric of the so-called 'White man's burden,' a belief that European Christians had to spread their civilization under the guise of benevolence, but at its core, colonialism was an extractive and exploitative economic venture.