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The practice for controlling trade to create and maintain wealth historically involved mercantilism, where nations sought to maximize exports and minimize imports to accumulate precious metals and enhance national power. Governments implemented tariffs, established monopolies, and created colonial systems to secure resources and markets. This approach often included restrictive trade policies that favored domestic industries and limited foreign competition, ensuring that wealth remained within the nation. Ultimately, these practices aimed to strengthen the economy and increase the state's influence on the global stage.
What else can I help you with?
In European nations the practice of carefully controlling trade to create and maintain wealth was called?
mercantilism
Which term best describes the practice of creating and maintaining wealth by carefully controlling trade?
Mercantilism
What is the practice of controlling a country's foreign trade building an army from locals keeping local rulers in power called?
commercial colonialism
What did African kingdoms base their wealth and power on?
African Kingdoms gained wealth and power by controlling the trade in gold and salt.
What did African kingdoms base their wealth and power?
African Kingdoms gained wealth and power by controlling the trade in gold and salt.
How do you use command economy in a sentence?
It has become difficult to create and maintain personal wealth in America due to its increasing move toward becoming a command economy.
How do use economy in a economy in a sentence?
It has become difficult to create and maintain personal wealth in America due to its increasing move toward becoming a command economy.
What is the practice of Khums?
Khums in Arabic means one-fifth, and it refers to when Shi'a Muslims give 1/5, or 20%, of their wealth as a tax to the Ayatollah, who uses it to maintain Shi'a shrines.
Does entrepreneurship create wealth?
yes
What was the resources of kerma?
Kerma had gained not only power but wealth, mainly from controlling the trade between Central Africa and Egpyt.
How did mali Ghana and songhai become powerful?
Mali, Songhai, and Ghana gained their wealth from trading and controlling.
Which term best describes the practice of creating wealth from colonies?
Mercantilism
