The term mercantilism is best described as (1) an economic policy in which a colonial power controls trade (2) an international policy of laissez-faire economics (3) a network linking industrialized nations (4) an exchange of land between nobles

The term mercantilism is best described as (1) an economic policy in which a colonial power controls trade. This was heavily present in the Colonial Times in the United States, because the United Kingdom was regulating trade between the United States and banned all trade with Europe for their colonies, that way the United Kingdom could become richer by being the only country to trade with the colonies. This put them at an advantage compared to European powers who did not have colonies.