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. Use the words import, export, and mercantilism in a paragraph about the colonies.

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During the 17th and 18th centuries Europeans believed in an idea called mercantilism, the idea that a nation's existence depended on power, and power depended on wealth. To gain wealth a country had to have colonies. These to provided a constant source of raw materials and become markets for the manufactured goods to the country that owned them or their "Mother Country." Mercantilism revolves around trade. Exports are goods sent for sale outside a colony or country. Imports are goods brought into a colony or country. Exported goods earn money. Imported goods cost money. Great Britain followed the most cost effective trade routes to increase profits. 
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Colonialism in America was marked by the practice of mercantilism, which consolidated the monarchy and bourgeoisie as the dominant social class.

Mercantilism corresponds to economic practices in the transition from the feudal period to capitalism, where the ruling classes united to promote commercial expansion to increase dominance and power.

Some characteristics of Mercantilism are:

  • Accumulation of precious metals.
  • State intervention in the economy.
  • Protectionism.
  • Favorable trade balance.

The colonial pact was therefore a search for strengthening the colonies and the mother country, since the pact established exclusivity of the colonies' internal trade with the metropolis, in a mercantilist import and export system that benefited both.

Through the exclusivity and economic protectionism of the colonies, the mother country guaranteed its domain over the colonies through treaties and regulations that helped in the development of the economy.

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https://brainly.com/question/1394624

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