Colonization: Colonization refers to the process by which a country establishes settlements or colonies in distant territories for economic, political, or social purposes.
Imperialism: Imperialism is the policy of extending a nation's power and influence through territorial acquisition or by establishing economic and political dominance over other countries.
Mercantilism: Mercantilism is an economic theory prevalent during this period that emphasized accumulating wealth through trade, often involving colonial possessions.