The theory of mercantilism holds that a nation’s economic power comes from a __________.
A. enslave people
B. become industrial
C. willingness to explore
D. favorable balance of trade
Under mercantilism, colonies served as a source of raw goods and as a market for __________.
A. human labor
B. precious metals
C. other raw goods
D. manufactured goods
The answers to your questions are:
1. D. favorable balance of trade
Explanation: Mercantilism is an economic theory that emphasizes the importance of a favorable balance of trade, meaning that a country should export more than it imports to increase its wealth and power.
2. D. manufactured goods
Explanation: Under mercantilism, colonies were expected to provide raw materials to the mother country and serve as markets for the manufactured goods produced by the home country, thus benefiting the overall economy of the nation.
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