Presential class: Mercantilism review activity Source: Social Studies United States History and New York History Beginnings to 1877, Holt Mcdougal, USA, Pg 24. Read the text and answer the questions: A. On what three beliefs was Mercantilism based? B. Transformation of societies: What role did Mercantilism play in the a. transformation of the European colonies? b. transformation of colonised countries? C. Why do global interactions transform society?