What is mercantilism-?

Answer 1

Historically

Mercantilism is the theory that states that a nation's power is based on its wealth (capital) compared to other nations. This requires the accumulation of valuable commodities, and a balance of trade that favors exports over imports.

In the 16th to 18th century, exploration and colonialism brought valuables and raw materials to Europe. It also opened new markets for exports of manufactured goods. In the American colonies, England monopolized trade, so that the colonies gave their profits to England.

Economics

Mercantilism is the theory that states that a polity's power is based on its wealth compared to other polities in real terms (e.g. gold) and that the purpose of a polity is to accumulate as much as wealth as possible to become powerful. This means that the nature of international Economics is inherently zero-sum: all outcomes that are good for one party (e.g. exporting; accumulating gold) are bad for others.

Strict Definition

A system of creating and maintaining wealth through carefully controlled trade.

Answer 2

Historically

Mercantilism is the theory that states that a nation's power is based on its wealth (capital) compared to other nations. This requires the accumulation of valuable commodities, and a balance of trade that favors exports over imports.

In the 16th to 18th century, exploration and colonialism brought valuables and raw materials to Europe. It also opened new markets for exports of manufactured goods. In the American colonies, England monopolized trade, so that the colonies gave their profits to England.

Economics

Mercantilism is the theory that states that a polity's power is based on its wealth compared to other polities in real terms (e.g. gold) and that the purpose of a polity is to accumulate as much as wealth as possible to become powerful. This means that the nature of international economics is inherently zero-sum: all outcomes that are good for one party (e.g. exporting; accumulating gold) are bad for others.

Strict Definition

A system of creating and maintaining wealth through carefully controlled trade.

Answer 3

According to mercantilism, the colonies were required to engage in two general behaviors: (1) The colonies were locked into exclusive trade between the colonies and the metropole and were not allowed to trade with any other nation or colony. (2) No manufactures or complex goods could be made in the colonial territory. As a result the colonies would provide wealth to the metropole by trading their Natural Resources for less than they would be worth and by buying manufactures for much more money.

Answer 4

Answer
Mercantilism is an economic system that requires two distinct political entities to exist. It requires a metropole, which is the main part of the country and where the leadership sits. It also requires colonies, which are distant regions with unique resources that can transfer these unique resources to the metropole.

In order to create this kind of relationship, leaders from the metropole must create colonies in distant lands in order to extract these resources. This is why mercantilism necessarily leads to colonialism. Note that this form of colonialism can exist within large empires as well. The Russian expansion into Siberia and Central Asia in the 1700s and 1800s mirrors the Western European creation of colonies in the Americas and this expansion was done with the purpose of extracting raw materials that were present in these territories.

Further Elaboration on the Metropole-Colony Relationship
Mercantilism is the economic policy that a metropole should have a number of colonies that provide it material wealth, unrefined resources, and a market for its goods. As a result, according to mercantilism, the colonies were required to engage in two general behaviors: (1) The colonies were locked into exclusive trade between the colonies and the metropole and were not allowed to trade with any other nation or colony. (2) No manufactures or complex goods could be made in the colonial territory. As a result the colonies would provide wealth to the metropole by trading their natural resources for less than they would be worth and by buying manufactures for much more money.

Answer 5

an economic system in which colonies supply the mother country wit raw goods then buy finished goods from the mother country (A+)

Answer 6

The definition for the word mercantilism is "belief in the benefits of profitable trading; commercialism."

Answer 7

what is mercantile