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.