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What relationship does balance of trade and mercantilism have?
Mercantilism restricts trade to only trading with the mother country.
What are the advantages of mercantilism?
balance of trade
What was the goal of mercantilism?
creation of a favorable balance of trade
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 was one goal of mercantilism?
creation of a favorable balance of trade
What relationship does balance of trade and mercantilism have?
Mercantilism restricts trade to only trading with the mother country.
What are the advantages of mercantilism?
balance of trade
What was the goal of mercantilism?
creation of a favorable balance of trade
Which was a feauture of mercantilism?
seeking a favorable trade balance
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 was one goal of mercantilism?
creation of a favorable balance of trade
Which was an aspect of mercantilism?
An interest in having a favorable trade balance
What is a favorable balance trade?
it is the relationship between a country's imports and exports ;)
What was the primary objective of mercantilism?
Was to enrich the nation by fostering a favorable balance of trade.
What is balance of trade?
Balance of trade is the relationship between a country's exports and imports. There is a trade surplus when a country's exports exceed its imports, and there is a trade deficit when a country's imports exceed its exports.
An aspect of mercantilism?
An interest in increasing exportsAn interest in having a favorable trade balance
What is the relationship between colonialism and mercantilism?
Colonialism and mercantilism are closely intertwined economic and political concepts. Mercantilism, dominant from the 16th to the 18th centuries, emphasized the accumulation of wealth through trade and the establishment of colonies, which were seen as sources of raw materials and markets for finished goods. Colonial powers sought to control these resources and trade routes to enhance their economic strength and maintain a favorable balance of trade. Thus, colonialism served as a practical application of mercantilist principles, facilitating the exploitation of resources and the expansion of national wealth.
