Colonialism: Colonialism refers to the practice of establishing colonies or settlements in foreign territories with the intention of exploiting resources, expanding influence, or establishing control over those areas.
Encomienda system: The encomienda system was an arrangement under Spain's policy where indigenous peoples were placed under the control of Spanish colonizers who had been granted authority over them. This system often led to exploitation and forced labor.
Mercantilism: Mercantilism is an economic theory prevalent during this time period which emphasized that a country's wealth and power depended on accumulating precious metals through trade, colonization, and maintaining favorable balances of trade.