Question

Write a 4-7 sentece summary that explains how trade and labor under mercantilism created wealth for England during the colonial period.​

Answer 1

Mercantilism in Great Britain consisted of the economic position that, in order to increase wealth, its colonies would be the supplier of raw materials and exporter of finished products. Mercantilism brought about many acts against humanity, including slavery and an imbalanced system of trade. During Great Britain's mercantilist period, colonies faced periods of inflation and excessive taxation, which caused great distress.

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