Question

Explain: mercantilism

Answer 1

Mercantilism was economic system of trade that spanned from the 16th century to the 18th century.

• Mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports and so involved increasing trade.

Answer 2

Explanation:

Mercantilism is a policy that is designed to maximize the exports and minimize the imports for an a economy. It promotes imperialism, tariffs and subsidies on traded goods to achieve that goal. These policies aim to reduce a possible current account deficit or reach a current account surplus. Mercantilism includes an economic policy aimed at accumulating monetary reserves through a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and also motivated colonial expansion.[1] Mercantilist theory varies in sophistication from one writer to another and has evolved over time.

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