Question

During the 1600s and 1700s, the mercantile system helped Britain to become a world power.
Define mercantilism and explain the role the colonies played in the mercantile system.
Had tobacco not been able to survive in the Virginia Colony, what might have happened to
Great Britain?

Answer 1

Answer:

Mercantilism was an economic theory that encouraged government regulation of the economy for the purpose of enhancing state power. The primary goal was to run trade surpluses and thereby fill the state's coffers with silver and gold.