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In the 1600s, the English economy was primarily based on a mercantilist system, which emphasized the accumulation of wealth through trade and the establishment of colonies. This system encouraged the development of a strong navy and trade networks, as well as the extraction of resources from colonies to benefit the mother country. Agriculture also played a significant role, with the enclosure movement transforming rural land use and increasing productivity. Overall, the economy was characterized by a focus on export-led growth and strict regulation of trade.
What else can I help you with?
What is a economical system?
An economy based on custom or tradition.
What a economic system?
An economy based on custom or tradition.
Is it true that The English system of measurement is based on powers of ten?
No it is not. It is the metric system invented by the French which based on powers of ten. And it is the Empirical system, not the English system.
What type of an economic system the Oman economy adopts?
Oman National Economy is based on justice and the principles of a free economy
What kind of system is the US economy based on?
capitalism :) i think
What kind of system is the United States economy based on?
MARKET
The economy of china is in transition .what does this mean?
The economy is moving from central planning toward a market-based system.
What does the economy of China is is in transition mean?
The economy is moving from central planning toward a market-based system.
What is the UK financial system?
The type of financial system that the UK has is called a mixed economy. The mixed economy financial system focuses more on market-based economies.
Prices in a market economy are based on?
The prices in a market economy are based on supply and demand. In a free price system, these are based on several factors like citizen interactions and observations.
What kind of economic system did the sumerians have?
A Traditional Economy Based on Farming :)
What was Egypt's economy based upon considering they did not have a system of money?
Trade.
