Question

Explain why the european nations wanted to maximise their exports and minimize their imports under a mercantile system?

Answer 1

Several powerful European nations set out to colonise African, American and Asian countries with their vast maritime forces during the later half of the previous millennium. During this period, they sought to increase their export capabilities rather than their import because of a few main reasons:

1. Export brought in more revenue compared to import.

2. They under-priced several of their goods so as to slowly kill the indigenous markets in their colonies.

3. They often traded their exports for expensive commodities that were rare in their homeland.