Colonialism: The practice of establishing settlements or controlling territories in distant lands with the intent of exploiting resources, establishing dominance, or spreading cultural influence.
Imperialism: A policy pursued by powerful nations seeking to extend their authority over other countries through military force or economic dominance.
Mercantilism: An economic system prevalent during this time period where colonies existed primarily for generating wealth for the mother country, often through strict regulation of trade and accumulation of precious resources.