Question

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)
Responses

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.
Colonies produced finished goods using raw materials from Europe.

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.

Answer 1

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

Explanation: Under mercantilism, colonies existed to enrich the mother country by providing raw materials and serving as captive markets; colonial trade was tightly regulated (e.g., Navigation Acts) rather than free.