How did mercantilism (The economic policy that emphasizes government control and regulation of trade to accumulate wealth) impact the American colonies?(1 point)
Responses
It restricted the colonies' ability to trade with countries other than Britain
It restricted the colonies' ability to trade with countries other than Britain
It encouraged the colonies to develop their own industries and become self-sufficient
It encouraged the colonies to develop their own industries and become self-sufficient
It had no impact on the colonies' economy
It had no impact on the colonies' economy
It allowed the colonies to trade freely with other countries
It restricted the colonies' ability to trade with countries other than Britain
The correct answer is: It restricted the colonies' ability to trade with countries other than Britain.
To arrive at this answer, we need to understand the basic premise of mercantilism. Mercantilism was an economic policy pursued by European powers during the 16th to 18th centuries, including Britain, which aimed to increase the nation's wealth through government control and regulation of trade. Under mercantilism, colonies were seen as economic assets to the mother country.
In the case of the American colonies, mercantilism had a significant impact. The British government implemented various laws and policies to ensure that colonial trade benefited Britain. One such policy was the Navigation Acts, which required all colonial trade to be conducted only with British ships and through British ports. This effectively restricted the colonies' ability to trade with countries other than Britain.
By restricting trade to only British sources, the American colonies were prevented from engaging in direct trade with other countries and would have to route their trade through Britain. This allowed Britain to control and profit from the colonies' commerce, as British merchants were given preference and could charge higher prices for goods.
Furthermore, British regulation of colonial trade meant that many industries in the colonies had to rely on British imports, inhibiting their ability to develop their own industries and become self-sufficient. The colonies were essentially seen as suppliers of raw materials for British factories rather than as independent economic entities.
Therefore, the correct answer is that mercantilism restricted the colonies' ability to trade with countries other than Britain.
The correct response is:
It restricted the colonies' ability to trade with countries other than Britain