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Economic system in which nations develop a favorable balance of trade by exporting more than importing?
Wiki User
∙ 9y ago
balance of trade
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoAdd your answer:
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Why a nation can have a favorable balance of trade and a unfavorable balance of payment?
it shows up as a trade deficit with the soncumer-goods-exporting nation.
What does it mean for England to have a favorable balance of trade?
it means they are taking in more money exporting its goods than it pays out to buy goods from other countries
What was a persistent economic problem facing the American colonies?
Maintaning a favorable balance of trade
Does the US have a favorable or unfavorable balance of trade?
Favorable
What is the balancing item in the balance of payments?
The 'Balance of Payments' of any country is the difference between the money made by exporting goods against money spent on importing goods from overseas. Take a simple example.... A country sells 100 billion worth of cars to another country - BUT - at the same time, imports 20 billion worth of grain. The balance of payments on that single transaction is -80 billion, because the country made more selling the cars than it spent on importing grain.
Why a nation can have a favorable balance of trade and a unfavorable balance of payment?
it shows up as a trade deficit with the soncumer-goods-exporting nation.
What it means that the British had an unfavorabe trade balance in China?
It means that the British were importing more goods from China than they were exporting goods to China.
What does it mean for England to have a favorable balance of trade?
it means they are taking in more money exporting its goods than it pays out to buy goods from other countries
What was a persistent economic problem facing the American colonies?
Maintaning a favorable balance of trade
Does the US have a favorable or unfavorable balance of trade?
Favorable
What is the balancing item in the balance of payments?
The 'Balance of Payments' of any country is the difference between the money made by exporting goods against money spent on importing goods from overseas. Take a simple example.... A country sells 100 billion worth of cars to another country - BUT - at the same time, imports 20 billion worth of grain. The balance of payments on that single transaction is -80 billion, because the country made more selling the cars than it spent on importing grain.
What do you mean by Indian mercantile law?
Indian Mercantile law is primarily an adaptation of the English Law. The different Indian acts follow, to a considerable extent, the English mercantile law with some reservations and modifications necessitated by the peculiar conditions prevailing in India.
Which was a feauture of mercantilism?
seeking a favorable trade balance
What was the goal of mercantilism?
creation of a favorable balance of trade
What is mercantisim?
An economic system that stresses the goals of national government instead of the individual. It developed in Europe during the decline of feudal system. It was the most important economic system in the 16th-18th centuries. Mercantilism required the national government to control business and trade: e.g. exporting should be more than importing. It aimed to exploit natural resources so that it could limit the import. Trade barriers, such as taxes were dropped. According to the Marcantilists, a nation's wealth was depended on its balance of trade.
Can a nation have a favorable balance of trade and an unfavorable balance of payments?
Yes, as the balance of trade is only one part of the balance of payments
What was one goal of mercantilism?
creation of a favorable balance of trade
