Question

This was the economic philosophy that control of imports was the key to enhancing the health of a nation and that colonies existed to serve the home country as a source of raw materials and a market for manufactured goods.

Answer 1

Mercantilism was the economic philosophy that control of the import,was the key enhancing the health of the nation and the colonies existing to serve home country as a source of raw material and market to manufactured goods this resulted generation of wealth and accumulation of profitable balance.