business enterprise that makes profit primarily through trade, buying goods
cheap and selling them at higher prices is called
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Answer:
it is called economics activity
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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.
To know more
Mercantile trade system in context of business enterprise:
brainly.in/question/16619054
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