What was mercantilism and how did it affect the Anglo-American colonies?
Answer (3)
It was a theory that was used in 16th to 18th cent. Europe for a nation's gov't to regulate its economy by placing high tariffs on imports to promote its own products. It also banned its colonies to trade with other nations, and the export of gold or silver to avoid currency devaluation.
Mercantilism was an economic theory from the 16th to 18th centuries that emphasized government regulation of the economy to accumulate wealth, primarily through colonial trade. This system created strong economic ties between Britain and its American colonies but also fueled resentment due to restricted trade and high prices. Ultimately, these tensions contributed to the American Revolution.
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