Question

explain the theory and practice of mercantilism. How did it help in colonization of India​

Answer 1

Answer:

Because the East India Company was founded as a result of the British government giving a group of traders a trading monopoly in India, mercantilism was a factor in the colonisation of that country.

Explanation:

• As a result, mercantilism emerged as the dominant economic theory at the period.
• The colonists were urged to buy commodities from England rather than from competing countries.
• The raw resources from the colonies were shipped to England, where they were transformed into completed goods and sold to the colonists.
• Colonies were crucial under mercantilism because they produced raw materials for the mother country, products that it would otherwise have to import (things like grain, sugar, or tobacco).
• Additionally, the colonies provided the mother country with a market for exports, which boosted domestic employment and industrial growth.

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Answer 2

Answer:

The theory and practice of mercantilism. How did it help in the colonization of India:

• The East India Company became based because the British authorities gave a collection of investors a buying and selling monopoly in India, and mercantilism became a component withinside the colonization of that country.
• Mercantilism is a financial idea that advocates authorities' law of worldwide exchange to generate wealth and toughen countrywide power. Merchants and the authorities paintings collectively to lessen the exchange deficit and create an exchange surplus.
• Hence, mercantilism emerged because of the dominant financial idea of the period.
• The colonists have been advised to shop for commodities from England in preference to from competing countries.
• The uncooked sources from the colonies have been shipped to England, where they have been converted into finished items and offered to the colonists.
• Colonies have been important beneath neath mercantilism due to the fact they produced uncooked substances for the mother country merchandise that it might in any other case ought to import (such things as grain, sugar, or tobacco).
• Additionally, the colonies supplied the mother country. with a marketplace for exports, which boosted home employment and business growth.

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