What theory holds that a nation's power depended of expanding its trade?

Answer 1

The theory that holds that a nation's power depends on expanding its trade is known as mercantilism. This economic doctrine, dominant from the 16th to the 18th century, posits that a nation's wealth and power are best served by increasing exports and accumulating precious metals, such as gold and silver. Mercantilists believed that a favorable balance of trade, achieved through protectionist policies and colonial expansion, would strengthen the nation economically and politically.