What was the basic economic structure established established by England

Answer 1

The basic economic structure established by England can be described as a mercantilist system during the 16th to 18th centuries. Mercantilism is an economic theory and practice that focused on maximizing exports and accumulating wealth through overseas trade.

Under this framework, England aimed to have a favorable balance of trade, where exports exceeded imports. The government enacted various policies to protect domestic industries, such as imposing tariffs and subsidies, which helped boost exports and reduce competition from foreign goods. They also established colonial monopolies, particularly in North America and the Caribbean, to secure exclusive trading rights and access to valuable resources.

The Navigation Acts were a series of laws passed by the English Parliament in the 17th century that reinforced mercantilist policies. These acts required all trade between England and its colonies to be carried on English ships, imposed restrictions on colonial trade with non-English countries, and mandated that certain colonial goods be sent only to England.

Additionally, the Enclosure Movement, which began in the 16th century, saw the privatization and consolidation of common lands and open fields. This shift from communal to private ownership of land helped to foster agricultural productivity and enabled the emergence of large-scale commercial farming.

Overall, the economic structure established by England during this period was characterized by a focus on overseas trade, protectionism, and the accumulation of wealth through maximizing exports.