What were the main principles of mercantilism?

Answer 1

Mercantilism was an economic theory prevalent in the 16th to 18th centuries, emphasizing that a nation's strength was directly related to its wealth, particularly in gold and silver. Key principles included the belief in a positive balance of trade, where exports exceeded imports, and the idea that government intervention was necessary to achieve economic goals through tariffs and subsidies. Mercantilists also advocated for colonial expansion to secure resources and markets, reinforcing the notion that national power was tied to economic dominance.