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12 November, 00:43

How did Great Britain profited from Triangular trade and mercantilism

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  1. 12 November, 00:50
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    The policy of Mercantilism favored England because the raw materials from the colonies were used to make different products in England - finished goods have a higher value than raw materials. The premise of Triangular Trade was that the different regions would trade goods that they had in abundance in exchange for those goods which were scarce in their own region. The slave trade is an example of the impact of Triangular, with many of the slaves destined to work on the Slave Plantations. Triangular Trade, coupled with the policy of Mercantilism, provided a "favorable balance of trade". This application of Mercantilism ensured that gold and silver, and all domestic money, stayed in England.
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