Under the doctrine of mercantilism, Spain and Portugal encourged their latin american colonies 1. buy manufactured goods only from the mother country 2. permit foreign merchants to trade with in the empires 3 practice free trade 4 become self sufficient
Under the doctrine of mercantilism, Spain and Portugal encourged their latin american colonies 1. buy manufactured goods only from the mother country 2. permit foreign merchants to trade with in the empires 3 practice free trade 4 become self sufficient
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Under the doctrine of mercantilism, Spain and Portugal encourged their latin american colonies
1. buy manufactured goods only from the mother country
2. permit foreign merchants to trade with in the empires
3 practice free trade
4 become self sufficient
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Step 1
An economic system employed by different European Empires in the period between 1500-1800 in their overseas colonies, is known as Mercantilism. This system advocated for the government control of the economy and worked on the belief of maintaining wealth in the empire. It was a popular belief of the colonial empires that for them to win it was essential that another country lose.
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