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Mercantilism was an economic theory popular in Europe during the Age of Exploration. It related to world exploration, establishing colonies in other lands, and protecting industry in the European country. Mercantilism can be summarized as follows.
- A country's wealth is based on the amount of gold and silver it has
- A country increases its silver and gold by selling more goods to other countries that it buys for them
- The government regulates all foreign trade (imports and exports) so more gold and silver enter the country than leave it.
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What was one major difference between the Commercial Revolution and the Industrial Revolution?
The Commercial Revolution led to the adoption of mercantilism in Europe, while the Industrial Revolution contributed to the end of mercantilism.
What was the policy of mercantilism?
A state's power depended on its wealth.
He system that uses colonies as a source of raw materials and a market for finished goods is called?
mercantilism
What year did the british policy of mercantilism take place?
1733
What is the belief that the colonies exist to benefit the economy known as?
mercantilism
How did the physiocrats feel about mercantilism?
They hated the mercantilism
What is a good sentence for mercantilism?
mercantilism was eventually replaced by capitalism
How is capitalism different from mercantilism?
Capitalism is an economic system. Mercantilism is trading.
The dominant economic theory of the late 1700s was?
MercantilismThe answer is Mercantilism
What was an aspect of mercantilism?
One aspect of mercantilism is building a network of colonies overseas.
What is a sentence using the word mercantilism?
Mercantilism still rules the financial press.
What was aspect of mercantilism?
One aspect of mercantilism is building a network of colonies overseas.
Was mercantilism an early phase of capitalism?
That is true, mercantilism was an early phase of capitalism.
The belief that colonies exist to benefit the economy of the mother country is known as?
Mercantilism. Held in the early days of settelment of the americas.
What is an example of a sentence using the word mercantilism?
Mercantilism was a way to get money from other nations. It is an example of mercantilism in a sentence.
How did mercantilism represent a form of government intervention in the economy?
Did mercantilism accept the intervention of government
Where did mercantilism develop?
Mercantilism developed in Europe around the late 16th to 18th centuries
