The system that uses colonies asa source of raw materials and a market for finished goods is called?

The system that uses colonies as a source of raw materials and a market for finished goods is called mercantilism. Mercantilism is an economic system that was popular in Europe from the 16th to the 18th centuries. It was based on the idea that a country's wealth and power depended on its ability to export more goods than it imported. Colonies were seen as a way to increase a country's wealth and power by providing access to raw materials and a market for finished goods.