Final answer:
The Hudson's Bay Company controlled the fur trade, a key economic activity during the period of European colonization in North America.
Step-by-step explanation:
The Hudson's Bay Company controlled the fur trade. During the era of colonization, European nations, including Britain and France, were heavily involved in trading raw materials and goods from their colonies. The Hudson's Bay Company, structured on similar lines to European trade companies such as the Dutch West India Company, capitalized on the lucrative fur trade in North America, establishing strong relationships with Native American tribes, such as the Iroquois, for this purpose. Iconic images from the period, as seen in Canadian historical depictions, illustrate European traders engaged in negotiating for furs, highlighting the significance of this trade. The fur trade played a crucial role in the economic foundations of colonies and trading companies at the time.