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An assumption of mercantilism is that a nation's wealth is primarily measured by its stock of gold and silver, which can be increased through a favorable balance of trade. This economic theory posits that governments should actively intervene in the economy to promote exports and restrict imports, thereby maximizing national wealth. Additionally, mercantilism assumes that global trade is a zero-sum game, meaning one nation's gain is another's loss.
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What was the basic erroneous premise of mercantilism?
Upon what do you base the assumption the premise of mercantilism is erroneous?
What statement is a key assumption of mercantilism?
A key assumption of mercantilism is that a nation's wealth and power are best served by increasing exports and accumulating precious metals, such as gold and silver. This economic theory posits that national strength is directly tied to the level of economic self-sufficiency and a favorable balance of trade. Additionally, mercantilism suggests that government intervention is necessary to regulate the economy and promote national interests.
What statement describes the theory of mercantilism?
The theory of mercantilism is described best as England giving economic favors. these favors were given to some companies and people but not others.
What statement best describes the concept of mercantilism?
Controlling trade is a key to increasing power.
What statement best describes the theory of mercantilism?
export more goods than are imported.
What was the basic erroneous premise of mercantilism?
Upon what do you base the assumption the premise of mercantilism is erroneous?
What statement is a key assumption of mercantilism?
A key assumption of mercantilism is that a nation's wealth and power are best served by increasing exports and accumulating precious metals, such as gold and silver. This economic theory posits that national strength is directly tied to the level of economic self-sufficiency and a favorable balance of trade. Additionally, mercantilism suggests that government intervention is necessary to regulate the economy and promote national interests.
What is a valid assumption?
When someone calls a statement a "valid assumption" they mean that it is probably true.
Is assumption a noun?
Yes, assumption is a noun, a singular, common, abstract noun.
What statement describes the theory of mercantilism?
The theory of mercantilism is described best as England giving economic favors. these favors were given to some companies and people but not others.
What are assumption for?
Synonyms for assumption include, statement, hypothesis, guess, supposition, postulation, conjecture, theory, notion, belief, idea. !
How do you prove a statement by contradiction?
To prove by contradiction, you assume that an opposite assumption is true, then disprove the opposite statement.
What statement best describes the concept of mercantilism?
Controlling trade is a key to increasing power.
What statement best describes the theory of mercantilism?
export more goods than are imported.
What are synonyms for assumption?
Synonyms for assumption include, statement, hypothesis, guess, supposition, postulation, conjecture, theory, notion, belief, idea. !
Why is the going concern assumption an important consideration in understanding financial statement?
According to Going Concern Assumption it is assumed that the said business will continue in the foreseeable future and will not liquidate in future, This assumption ensures the faith of investors, potential investors, and all the stakeholders in the business. Thus the Financial Statement is prepared on the basis of Going Concern Assumption.
What statement best supports the theory of mercantilism?
Colonies do not contribute to the economic success of Great Britain
