advantages and disadvantages of mercantilism
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What Are the Pros of Mercantilism?
1. It encourages the complete development of all natural resources.
2. It encourages trade deficits for foreign nations.
It naturally reduces unemployment rates.
Disadvantage
1. It creates high levels of resentment.
2. It creates a preference for the mother nation to always be first.
3. There is always a risk of local raw materials and resources running out.
1. It encourages the complete development of all natural resources.
2. It encourages trade deficits for foreign nations.
It naturally reduces unemployment rates.
Disadvantage
1. It creates high levels of resentment.
2. It creates a preference for the mother nation to always be first.
3. There is always a risk of local raw materials and resources running out.
Answered by
1
advantages and disadvantages of mercantilism
Explanation:
- Mercantilism is a practice where a country decides to acquire wealth through trade.
- Under this practice, many European took colonies in America, Africa and Asia as moneymakers for their Empires.
- Colonies require to provide raw materials such as cotton, timber, fur and other natural goods.
- Mercantilism allows more production of agricultural products that exported as raw materials for industries in Europe.
- It causes a decline in local goods which, replaces by manufacturing goods in markets in colonies.
Learn More:
What is mercantilism ?
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