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What did the mercantilists believe?
Mercantilism is the belief that colonies exist for the benefit of the mother country.
What did mercantilists believe?
They believe in the use of colonies for the benefit of the mother country, otherwise they tip the trade so it benefits the mother country.
Why did mercantilists believe that nations should set up over seas colonies?
because. They farted
What do mercantilists advocate that a nation do?
A large supply of bullion
What do mercantilists believe a country should do?
A colony or territory should benefit the "mother" nation. Should be more imports than exports. Hard cash (gold, silver) is most valuable.
What did the mercantilists believe?
Mercantilism is the belief that colonies exist for the benefit of the mother country.
What did mercantilists believe?
They believe in the use of colonies for the benefit of the mother country, otherwise they tip the trade so it benefits the mother country.
Why did mercantilists believe that nations should set up over seas colonies?
because. They farted
What do mercantilists advocate that a nation do?
A large supply of bullion
What do mercantilists believe a country should do?
A colony or territory should benefit the "mother" nation. Should be more imports than exports. Hard cash (gold, silver) is most valuable.
What basic assumption did mercantilists hold about their colonies?
Lick a nut
Did Mercantilists assume that the colonies only existed to enrich the mother country?
yes
According to mercantilists the prosperity of a nation depended on?
a large supply of bullion, or gold and silver.
What is Mercantilists?
a policy based on on the idea that a country should sell more goods than it buys
How were the physiocrats different from the mercantilists?
physiocrats focused on econimic reforms where as mecantilists focused on expoting more than importing
What did a country have to do in order to become wealthy and powerful according to mercantilists?
According to mercantilists, a country had to accumulate wealth primarily through a favorable balance of trade, meaning it should export more goods than it imports. This involved establishing and maintaining strong manufacturing sectors, securing colonies for resources and markets, and implementing protectionist policies to shield domestic industries from foreign competition. Additionally, mercantilists believed that increasing national reserves of gold and silver was essential to bolster a nation’s power and influence.
How did smith's on international trade differ from those of mercantilists?
Adam Smith's approach to international trade differed from that of mercantilists primarily in his advocacy for free trade and the benefits of specialization. While mercantilists believed in accumulating wealth through a positive balance of trade and government intervention, Smith argued that trade should be based on comparative advantage and voluntary exchange. He posited that countries should focus on producing goods they can make most efficiently, leading to overall economic growth and mutual benefits rather than zero-sum competition. This shift emphasized the importance of market forces over state control in fostering economic prosperity.
