Question

An economy made to serve the interest of its colonial rule is called__________ economy​

Answer 1

An economy made to serve the interest of its colonial rule is called Mercantilist or Colonial economy.

Explanation:

Mercentalist or colonial economic theory basically advocates accumulation of economic wealth through the expansion of international trade and commerce.It essentially relies on enhancing economic strength of any nation by increasing its export activities in international market and restricting the import activities as exports are the main source of foreign capital accumulation and in contrast,import contributes to domestic financial capital outflow.Now,in medieval times,many of the European colonial regimes used the respective colonies to extract raw materials,factors/inputs of production,manual labor,essential metals and other productive resources to produce finished goods and services for commercial export in the international market and gained economic wealth in this process which majorly contributed to the economic growth and progress of these colonial countries.

Answer 2

$<marquee>Ello ❤<marquee>$

The colonial rule is marked with periods of heavy exploitation. The British took steps that ensured development and promotion of the interests of their home country. They were in no way concerned about the course of Indian economy. ... The colonial kings robbed India of education, opportunities etc.