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The economic system called ___ required European nations to colonize new areas to provide resources.

free enterprise
socialism
taxation
mercantilism
representation

User Darrel Lee
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Answer:

Mercantilism.

Step-by-step explanation:

Mercantilism is an economic ideology that seeks to increase trade for the benefit of the country. It calls on the government to implement policies and regulations to the advantage of trade balance, at the expense of other countries. The primary (agricultural and mining) and secondary (manufacturing) industries are supported to maintain a self-sustaining economy and to create excess goods for export. Efforts are made not to rely on imports, other than those which cannot be found or produced domestically. In doing so, the aim is to increase the country's financial reserves and secure a strong currency.

Mercantilism peaked in Europe from the 16th to the 18th centuries, and has historically been aimed at increasing the gold and silver reserves in the treasury. As a result of Mercantilism and the need for new resources, many European nations began to establish colonies in territories such as America, Africa or Asia.

User Pavel P
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