Define mercantilism .What is it based on?
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Explanation:
belief in the benefits of profitable trading.
HISTORICAL
the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.
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1
Answer:
Mercantilism is based on the principle that the world's wealth was static, and consequently, many European nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and by limiting their imports via tariffs.
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