Mercantilism was a political-economic system that many European nations instituted in their American colonies to maximize their profits. Which of the following was a key element of mercantilism?(1 point)

Question

Responses

Colonies were banned from free trade and supplied raw materials to their mother country.
Colonies were banned from free trade and supplied raw materials to their mother country.

Colonies were permitted to freely trade with other European nations.
Colonies were permitted to freely trade with other European nations.

Colonies directly benefited from the wealth gained from trade.
Colonies directly benefited from the wealth gained from trade.

Colonies produced finished goods using raw materials from Europe.

Answer 1

The key element of mercantilism from the provided options is:

Colonies were banned from free trade and supplied raw materials to their mother country.

Mercantilism emphasized the importance of accumulating wealth through trade, where colonies served primarily to provide raw materials to the mother country and were restricted from trading freely with other nations.