Mercantilism: Mercantilism was an economic policy followed by European monarchs that aimed to increase their country's wealth through trade, colonization, and accumulating precious metals.
Colonization: Colonization is when a country establishes settlements in foreign lands with the intention of exerting control over them for economic or strategic purposes.
Patronage: Patronage refers to the practice where European monarchs financially supported explorers and scientists to undertake voyages of discovery or research.