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

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

Answer 1

The key element of mercantilism is:

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

Mercantilism emphasized that colonies existed primarily to enrich the mother country by providing raw materials and markets for manufactured goods, while limiting their ability to trade with other nations.