Question

business enterprise that makes profit primarily through trade, buying goods

cheap and selling them at higher prices is called ​

Answer 1

Answer:

it is called economics activity

Answer 2

Mercantilism prevailed since from British rule.

Explanation:

• India followed mercantile trade during the tyranny of the East India Company.
• British produced goods and exported them to many countries by curbing imports.
• Mercantile trade makes a business self-reliant by opting for premium export markets.
• This system aimed at flourishing an economy. Today most of the developed economies are the result of effective mercantilism.
• It offers a country with favourable balance of trade.
• Businesses imported gold to gain a price advantage.

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Mercantile trade system in context of business enterprise:

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