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According to the theory of mercantilism a country has a favorable balance of trade when?
Wiki User
∙ 14y ago
the value of exports is greater than the value of imports
Wiki User
∙ 14y ago
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What relationship does balance of trade and mercantilism have?
Mercantilism restricts trade to only trading with the mother country.
How is mercantilism related to balance of trade?
Mercantilism is the economic theory that says that a healthy economy must have a balance between supply and demand. A country must have a good demand for goods, and then be able to fulfill that demand to be prosperous.
What is significance of mercantilism?
It was an economic syste which caused an increase in a country's treasury by creating a favorablr balance in trade.
According to mercantilism principles what were the two ways a nation could increase their wealth?
The object of mercantilism was to increase the wealth of the Mother Country.
Favorable balance of trade?
Country exports more than their total imports per capita
What relationship does balance of trade and mercantilism have?
Mercantilism restricts trade to only trading with the mother country.
What is a favorable balance trade?
it is the relationship between a country's imports and exports ;)
How is mercantilism related to balance of trade?
Mercantilism is the economic theory that says that a healthy economy must have a balance between supply and demand. A country must have a good demand for goods, and then be able to fulfill that demand to be prosperous.
What is significance of mercantilism?
It was an economic syste which caused an increase in a country's treasury by creating a favorablr balance in trade.
According to mercantilism principles what were the two ways a nation could increase their wealth?
The object of mercantilism was to increase the wealth of the Mother Country.
Favorable balance of trade?
Country exports more than their total imports per capita
Which was a feature in mercantilim?
A key feature of mercantilism was the belief in accumulating wealth through a favorable balance of trade, where a country exports more than it imports. Governments regulated and controlled trade to increase exports and accumulate precious metals. Protectionist policies, such as tariffs and subsidies, were common to support domestic industries and maintain a positive trade balance.
What is the difference between a favorable and an unfavorable balance of trade?
noun the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports. ----
How did French mercantilism system work?
System based on the fact that a country benefits by accumulating monetary reserves through a positive balance of trade.
According to 17th and 18th century mercantilism a country should export in return for?
goods and products, gold and silver
If you were a king what could you do to make sure your country has a favorable balance of trade?
You need to answer this question since it asks you what you would do not us. We don’t do homework.
According to the policy of mercantilism how could a nation increase in its wealth?
The theory of mercantilism held that a country's power depended mainly on its wealth. Wealth after all, allowed nations to build strong navies and purchase important goods. As a result to the policy of mercantilism the goal of every nation became the attainment of as much wealth as possible. Saying this they can increase their wealth by balance of trade and the economic revolution changes european society source- Honors World Civ book
