Question

Why were colonies considered so important to the nations of Europe? Think about: the philosophy of mercantilism and the notion of a favorable balance of trade.

Answer 1

During the 17th and 18th century a nation's over seas holding was one of the way measuring it's power.And merchant then needed more places where they could buy goods for low prices and where they could sell there goods.These ideologies and the quest for power lead to overseas expedition mostly sponsored by the Government and merchants.