Question

As the Spanish established American colonies, they sent silver and gold mined in the Americas to Spain. Spain, like many other European countries of the time, believed that a country's wealth depended on how much silver and gold it owned. This is an example of which type of economic system? capitalism mercantilism isolationism nationalism

Answer 1

mercantilism is the correct answer

Answer 2

mercantilism

Step-by-step explanation:

Mercantilism was a set of economic practices adopted by European nations between the fifteenth and eighteenth centuries, in the context of the Great Navigations, which mark the transition between the feudal production model and the capitalist production model.

The main features of mercantilism were the favorable trade balance (export rather than import) and metalism, which is the idea of accumulating as much precious metal as possible, since this was considered an indicator of a nation's wealth.