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What was the mercantilism system?

AMerchants in the colonies could only sell what the monarchy in England allowed them to sell
BColonies were expected to produce only what England needed and to buy everything they needed from England
CAll goods in the colonies were taxed at a higher rate than what they were taxed at in England
DColonists were given incentives by the English monarchy to start businesses

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Govinda

Option A

Mercantilism. Mercantilism is economic nationalism for the purpose of building a wealthy and powerful state. Adam Smith coined the term “mercantile system” to describe the system of political economy that sought to enrich the country by restraining imports and encouraging exports

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