Which idea is central to mercantilism?

Answer 1

The central idea 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 emphasizes the importance of a favorable balance of trade, where exports exceed imports, and advocates for government intervention to promote national industries and protect domestic markets. Mercantilism also suggests that colonies exist primarily to benefit the mother country by providing raw materials and markets for finished goods.