Answered: How did mercantilism benefit England?…

Social Science

History

How did mercantilism benefit England? How did it NOT benefit the colonists?

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Question

How did mercantilism benefit England? How did it NOT benefit the colonists?

Expert Solution

Step 1

Mercantilism was an economic practice that is exerted by the power structures to ensure that export exceeds imports. This is one way of accumulating wealth for the mother countries. The wealth was accumulated mostly in the form of billions especially in the form of gold and silver.

It was a practice that gained popularity during the Age of Discoveries in the 16^th to 18^th centuries. It was a popular mode of operation of the European nations.