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WHAT IS Mercantilism?
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Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an 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.
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Explanation:
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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