Question

what is mercantilism?​

Answer 1

Answer:

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

Answer 2

Explanation:

◾Mercantilism is basically a national economic policy.

◽It is often considered as an outdated system.

◾Mercantilism is also known as Commercialism

◽ In the 17th and 18th centuries the Mercantilism was considered as a very popular economic philosophy.

◾This economic theory was mainly in practice and was common in Europe from the 16th to the 18th century.

◽It ensures government regulation of international trade with other nations around the globe based on economical purposes to generate wealth and strengthen the power of the nation.