What was the basic economic structure established by England?
a import/export economy
b mercantilism
c market economy
d capitalism
b mercantilism
The basic economic structure established by England was b) mercantilism. To arrive at this answer independently, you can start by understanding the definitions of each option.
a) An import/export economy refers to a system where a country mainly focuses on trading goods and services with other nations.
b) Mercantilism was an economic theory and practice prevalent during the 16th to 18th centuries in Europe. It emphasized government regulation and control of trade to maximize the nation's wealth and power. Under mercantilism, exports were encouraged, and imports were restricted by imposing tariffs and quotas.
c) A market economy is an economic system wherein the production, distribution, and pricing of goods and services are determined by individuals and businesses operating in the marketplace, with minimal government intervention.
d) Capitalism is an economic system characterized by private ownership of resources and means of production, with profits being the main driver of economic activity.
With this understanding, you can eliminate options a), c), and d) since they do not align with the historical economic structure established by England. The correct answer then becomes b) mercantilism, which best reflects the way England shaped its economic policies during that period.