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 produced finished goods using raw materials from Europe.

Colonies produced finished goods using raw materials from Europe.

Colonies directly benefited from the wealth gained from trade.

Answer 1

The key element of mercantilism from the options provided is:

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

This accurately reflects the mercantilist principle that colonies were expected to provide raw materials to the mother country while being restricted from trading freely with other nations.