An example of mercantilism

Answer 1

Mercantilism is an economic theory that emphasizes the role of the state in managing the economy to increase national wealth, primarily through a favorable balance of trade. A classic example is the trade policies of 17th-century England, where the government sought to maximize exports while minimizing imports, often through tariffs and colonial expansion. This approach aimed to accumulate precious metals and strengthen national power, illustrated by the Navigation Acts that restricted colonial trade to benefit England.