The term "European economies" refers to the systems of production, distribution, and consumption of goods and services within European countries during a specific time period.
Related terms
Mercantilism: An economic system where colonies exist to benefit the mother country economically. For example, European nations sought to extract wealth from their colonies through monopolistic control over trade.
Cottage industry: A form of small-scale manufacturing where individuals or families produce goods in their homes using simple tools. This was common in Europe before the rise of factories.
Trade networks: These are interconnected routes and channels through which goods were exchanged between different regions or countries. They played a significant role in shaping the European economies during the colonial era by facilitating trade and commerce.