Praxis II Government/Political Science Exam Prep

Category - Praxis II Government/Political Science Test

Which economic theory describes how many European empires expanded through colonization in the 16th to mid-18th centuries because founding colonies ultimately increased a state's access to raw natural resources and expanded their marketplace?
  1. Colonialism
  2. Imperialism
  3. Mercantilism
  4. Free enterprise
Explanation
Answer: C - Mercantilism is an economic theory that advocated trade as a society’s chief wealth-building mechanism. It encouraged colonization because colonies were generally less developed regions in which there were one or more abundant natural resources that could be used in manufacturing. A state's own colonies often became their biggest customers since they were not industrially well developed and their trade policy was largely dictated by the colonizing power.
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